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TikTok has rejected buy-out offer: Microsoft

Sep 14, 2020 10:39 IST

US tech giant Microsoft on Sunday said that its offer to buy TikTok in the US has been rejected by the Chinese company. "ByteDance let us know they would not be selling TikTok's US operations to Microsoft," the US tech giant said in a statement. ByteDance is TikTok's parent company. President Trump has set a 90-day deadline for the Chinese-owned video app to sell or shut down its US operations. Following Trump's executive order, Microsoft and Oracle were possible suitors to take over TikTok operations. Media reports last week had said that China would prefer to see TikTok US close down than allow a forced sale. TikTok has also sued the Trump administration over the ban order.

Global Business