There is a current discussion on the potential of software giant Microsoft purchasing TikTok, said a CNN report.
This is days after President Donald Trump said he would ban the popular short-form video app from operating in the US.
Chinese start-up ByteDance owns TikTok.
US policymakers have expressed their concerns about the app for weeks as tensions between the United States and China escalate.
Many policymakers are asserting that it could pose a risk to the US’s national security.
“[Microsoft] 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.”
The software giant added, it will “move quickly” to talk with ByteDance “in a matter of weeks.”
“During this process, Microsoft looks forward to continuing dialogue with the United States Government, including with the President,” the company added.
The New Structure
Should the deal pushed through, it would create a new structure between Microsoft and ByteDance.
Microsoft would own it and operate TikTok services in the United States, Canada, Australia, and New Zealand, said the report.
As part of the agreement, Microsoft said it would ensure that all private data of TikTok’s American users would be transferred to and remain in the United States.
The popular Chinese app said in a statement published Sunday on Toutiao:
“(TikTok) has always been committed to becoming a global company.”
“In this process, we are faced with all kinds of complex and unimaginable difficulties.”
They cited a “tense international political environment,” among other issues.
Ban From Both Sides Of The World
Indeed, the Chinese-made app is facing international tension from both sides of the world.
India banned the platform after an escalating tension with China arising from a border dispute.
About 20 Indian soldiers were reportedly dead due to the dispute.
The US, which is currently in a trade dispute with China, is considering banning Chinese apps.
Meanwhile, South Korea slapped TikTok with a hefty fine amounting to 186m won fine (roughly $155,000).
The app reportedly mishandled children’s data in South Korea.