By: Rajini KG
August 7 2020
U.S. President Donald Trump advised Microsoft to take over TikTok in entirety instead of buying a fraction of its shares.
U.S. President Donald Trump advised Microsoft to take over TikTok in entirety instead of buying a fraction of its shares.There have been multiple reports that suggested that U.S. tech giant Microsoft was willing to buy a portion of TikTok from its Chinese owners. Initial reports suggested that Microsoft would buy 30% of TikTok's shares. On August 3, 2020, President Trump, in a meeting with U.S. Tech workers, said that he had a conversation with the Microsoft CEO regarding the takeover of the Chinese-owned video content app Tik Tok, due to national security concerns. He suggested that it might be easier if Microsoft bought all of TikTok rather than a 30% share. He made this recommendation as a 30% share would mean that the brand name would be split across two countries. He added that whichever American company buys TikTok, would have to pay a substantial amount to the U.S treasury department as part of the acquisition. Trump also gave a deadline to all interested parties in the U.S. asking them to wrap up the deal by September 15, 2020.