ByteDance, Microsoft Break Off TikTok Deal Talks

Bytedance has apparently gotten the "tap on the shoulder" from the CCP bigwigs who apparently aren't super thrilled about the optics of a mighty Chinese conglomerate kowtowing to the Trump Administration.

Earlier today, it appeared that President Trump's late-night threat about banning TikTok had motivated ByteDance and Microsoft to speed up their talks.

But as the New York afternoon wore on, a Dow Jones headline proclaimed that Microsoft (MSFT) and ByteDance had decided to abruptly stop negotiations.

Microsoft Corp. and Bytedance Ltd. have put acquisition talks for TikTok on hold after President Donald Trump said Friday he would oppose the deal, Dow Jones reported, citing people familiar with the matter who weren’t identified.

Trump’s comments prompted TikTok to make additional concessions, including agreeing to add as many as 10,000 jobs in the U.S. over the next three years, according to the report.

Microsoft was exploring an acquisition of TikTok’s operations in the U.S., people familiar with the matter said Friday. A deal would

give the software company a popular social-media service and relieve U.S. government pressure on the Chinese owner of the video-sharing app.

With the way things are going, TikTok could become the next Huawei (Senate Republicans have already passed a bill to bar TikTok from devices used by federal employees in a work capacity), and Microsoft and the other American suitors who were so eager to take the company of BD's hands might decide it's no longer worth the trouble.

Meanwhile, BBG reports that the Trump administration is poised to announce a decision on Chinese-owned TikTok, potentially preventing the popular music-video app from operating in the US and escalating the administration’s clash with China.

The decision may reportedly come within hours, according to BBG's source.

* * *

President Trump's insistence that the White House will ban the social-media app TikTok from the US triggered a wave of hysteria among users of the app: whatever will the American teens who built enormously valuable brands sharing dance videos on the app do now? They were just hanging out with the Kardashians! What are they supposed to do now?!

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Chee Hin Teh 1 week ago Member's comment

Many thanks Tyler...