There have been several rumors in recent days that the sale of TikTok is unlikely. Microsoft has confirmed that they are true.
According to Microsoft officials, the acquisition of TikTok from ByteDance has failed. Apparently, the Chinese refused the financial offer of the Redmond giant, and the company founded by Bill Gates stopped making efforts on this subject.
Microsoft was defeated in the TikTok acquisition race, and the information was confirmed in a short press release released on Sunday. In these lines, it is pointed out that ByteDance, the parent company of TikTok, refused the offer to acquire the shares related to the activity in the USA, belonging to the beloved social network.
Ã¢ â¬ ÅWe are confident that our proposal would have been good for TikTok users, while defending national security interests. In order to implement it, we would have made important changes to ensure that the service meets the most stringent standards of security, privacy, online security and the fight against misinformation, and we have clearly stated these principles in our press release. August. We look forward to seeing how the service progresses in these important areas, âthe Microsoft statement said shortly.
It is important to note that Microsoft did not detail the specifics of the understanding it proposed to Bytedance, the exact changes it intended, or the amount of money offered. Even so, the US company's statement came online shortly after a Reuters report confirmed over the weekend that Chinese authorities were not at all pleased with the purchase and I perceive it as a form of blackmail from the United States, an offense to the Chinese government under the pretext of national security.
It remains to be seen whether ByteDance will confirm or deny a deal with Oracle, the only company left in the race for a possible acquisition. However, the deadline is very short, and if a possible agreement is not confirmed by tomorrow, September 15, it may be too late.