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Microsoft in talks with ByteDance to acquire TikTok in the US

The tech firm added that it may invite other investors to participate in the purchase.

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NEW DELHI: Tech giant Microsoft yesterday confirmed that it has held talks with Chinese technology company ByteDance to acquire its social app TikTok in the US. Microsoft said in a statement that it will keep working with the US government on a deal and intends to conclude talks by 15 September.

Microsoft stressed that it "fully appreciates the importance" of addressing president Donald Trump's concerns. A full security review of the app will be conducted, the company added.

Microsoft said it was looking to purchase the TikTok service in the US, Canada, Australia, and New Zealand, and would operate the app in these markets.

The tech firm added that it "may" invite other American investors to participate in the purchase "on a minority basis."

"Microsoft is committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury," the company said, adding that it will "move quickly" to talk with ByteDance "in a matter of weeks."

"During this process, Microsoft looks forward to continuing dialogue with the United States government, including with the president," the company added.

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