NEW YORK – President Donald Trump has given 45 days deadline to Microsoft for purchasing operations of popular short-video app TikTok in US, international media reported.
The proposed acquisition of the app, which has 100 million users in the US, could further deteriorate already disturbed ties between Beijing and Washington.
If the deal is realized it would offer Microsoft a rare opportunity to become a major competitor to social media giants such as Facebook and Snap Inc. Microsoft also owns professional social media network LinkedIn, Reuters reported.
On Friday, Donald Trump had said he will sign an executive order to impose a ban on the popular short-video Chinese app TikTok in the country over security concerns.
The same day the US president had dismissed the idea of a sale to Microsoft.
But the company in a statement issued after a meeting between Trump and Microsoft CEO Satya Nadella, on Sunday said that negotiations for acquiring TiTok from ByteDance will continue.
It further said that a deal between the tech giants could reach by September 15.
The negotiations between ByteDance and Microsoft will be overseen by Committee on Foreign Investment in the United States (CFIUS) CFIUS, a US government body with power of blocking any deal.
“Microsoft fully appreciates the importance of addressing the President’s concerns. It is committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury,” Microsoft said in a statement.
