There will be no Microsoft purchase.
It is expected that President Donald Trump will already today order Chinese ByteDance LTD to withdraw from TikTok.
Trump reports that he is banning TikTok in the United States as of today. The announcement comes after there was first speculation that the service had to be sold to an American company, then came the rumor that Trump was banning, and finally the latter was confirmed in the form of an «executive order».
Can happen today – we follow developments
According to the sources, the plan is to make the company American in order to have closer control of the app that allegedly spies on the users.
ByteDance traded Musical.ly Inc., a Chinese company with offices in Santa Monica, in 2017 and made it part of TikTok.
It has not been confirmed that Microsoft will have the opportunity to trade the American part of the company, which we reckon that very many are interested in, but it is this company name that is being rumored about now.