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September 26, 2020

MICROSOFT IS CONSIDERING THE AQUISITION OF ALL TIKTOK ASSETS

TikTok is facing a September 15 deadline either to complete the auction of its US operations to Microsoft or to face a ban in the United States.

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Microsoft Corp is negotiating an agreement to purchase all of TikTok’s global assets, including activities in India, the Financial Times published on Thursday, quoting five individuals with information on the negotiations. As per the FT report, the organization is investigating how it can add areas, like India and Europe, to the arrangement.

That being said, a source familiar with both the conversations told Reuters that Microsoft had not increased the possibility of purchasing all of TikTok in its negotiation process with ByteDance.

Microsoft said that it was seeking to purchase TikTok’s properties in North America, Australia, and New Zealand. It had not revealed how much it was prepared to bid, but sources have initially told Reuters that ByteDance executives rate all of TikTok at even more than $50 billion.

Microsoft has declined to comment on the report. TikTok Parent ByteDance did not reply instantly to Reuters’ requests for comments.

As per the FT report, the organization is investigating how it can add areas, including India and Europe, to the arrangement.

There was still a “deal in place” with Microsoft for TikTok India, but it went down, the FT said, citing a close person to ByteDance in India.

TikTok faces a September 15 deadline to either conclude the selling of its U.S. activities to Microsoft or to risk a suspension in the United States.