Microsoft and TikTok plan to complete negotiations to buy the popular video app within the next three weeks – by September 15th. The deal could be worth about $ 30 billion.
Microsoft is pushing for 15 million lines of code to be transferred to TikTok after completing acquisition negotiations with TikTok over the next three weeks, US company spokesman David Faber said.
If the deal goes through, Microsoft has already agreed with the US government to ship the TikTok code from China to the US within a year. According to Faber, Treasury Secretary Steve Mnuchin is involved in the buyout of the application, which could be a means of obtaining personal data for Chinese intelligence services.
Microsoft confirmed in a blog post on Sunday that it has been in talks with Chinese parent company TikTok ByteDance to buy out businesses in the US, Canada, Australia and New Zealand.