Microsoft to continue TikTok takeover talks after Trump's thumbs-up

Microsoft Corporation (NASDAQ:MSFT) said it will continue with negotiations to snap up TikTok’s North American business after being given leeway by President Donald Trump.  The US tech titan said it will “move quickly” to re-engage with the social video app’s China-based parent company ByteDance with the aim of completing discussions no later than September 15. READ: Microsoft cloud computing business Azure's growth slows below 50% This follows conversations between President Trump and Microsoft chief executive Satya Nadella. “During this process, Microsoft looks forward to continuing dialogue with the United States Government, including with the President,” the company said in a blog post on Sunday.  Trump had on Friday said that he was planning to ban the Chinese video app over the weekend over data security concerns and amid tensions between Washington and Beijing.   Microsoft, which said it may invite other US investors to participate on a minority basis in this purchase, added that it would add “world-class security, privacy, and digital safety protections” to the TikTok app. The discussions have centred around its potential purchase of TikTok’s business in the US, Canada, Australia, and New Zealand.  “Among other measures, Microsoft would ensure that all private data of TikTok’s American users is transferred to and remains in the United States.” Other investors in ByteDance were reported on Friday to be putting a potential bid for TikTok together, with a valuation of around US$50bn.