Microsoft, Bytedance Put TikTok Talks on Hold, Dow Jones Says
(Bloomberg) -- 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.
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