U.S. President Donald Trump announced that technology company Microsoft has started talks to acquire TikTok, and he expressed his desire to see a "bidding war" during the sale process. Speaking to reporters aboard Air Force One as he was flying to Florida, Trump stated that many investors had shown interest in TikTok, and the app had attracted significant attention from major companies.
Trump confirmed that Microsoft is in discussions with TikTok and is preparing an offer to purchase the app.
During a party meeting with U.S. Congressional Republicans in Miami, Trump further commented on the interest surrounding TikTok, stating that many investors or companies would likely make bids for the app, and he expected to witness a "bidding war" at this stage.
EXTENSION FOR TIKTOK
On his first day in office, Trump signed an executive order suspending the application of a law that would ban the Chinese-owned video-sharing app TikTok in the U.S. unless it was sold to an American company, giving a 75-day extension.
The president stated that while he was not in favor of banning TikTok, he wanted at least 50% of the app to be owned by an American company. He added, "We have the right to sell or shut down TikTok, and we will decide. China's approval is also needed, but I'm sure they will approve it. If not, we'll impose tariffs on China."
Additionally, the Trump administration must find a solution to the data security concerns that led to the decision, as TikTok's parent company, ByteDance, is registered in China. Under Chinese law, the company is required to share user data with the government when necessary.
