"The ByteDance informs us today that they will not sell the TikTok US at Microsoft", Says the company.
Μwith the deadline approaching, it seems that her effort Microsoft to obtain the TikTok ended, while, it is possible, the Oracle has managed to close the deal.
«ByteDance informed us today that they will not sell TikTok US to Microsoft", The company said in communication on Sunday afternoon.
Several reports show that the Oracle has secured the winning bid, but the company has not yet confirmed the news.
«We are confident that our proposal would be good for TikTok users, while protecting the interests of national security", Added Microsoft. «To do this, we would make significant changes to ensure that the service met the highest standards of security, privacy, cybersecurity and the fight against misinformation, and we made these principles clear in our statement in August. We look forward to seeing how the service evolves in these important areas.»
These principles included ensuring that the data of American TikTok users were transferred and retained in the United States. «The service model will be built to ensure transparency to users as well as appropriate security oversight by governments in these countries» said Microsoft last month.
The news comes after the Wall Street Journal Reported that the ByteDance Beijing-based TikTok, which owns TikTok, has refused to sell or transfer its algorithm to any potential buyer.
ByteDance wants to sell the popular app because President Trump has pledged to ban TikTok in the US if it remains under Chinese control. Trump has given potential U.S. buyers until September 15 to sign a TikTok deal before a ban takes effect. Oracle was also in claimants.
Surprisingly, Trump said last month that if a US company bought TikTok, the US government would have to take share of the sale. "I said that a very important part of this sale should come from the United States Treasury Department. Because we make this agreement possible", Said Trump. «They do not have rights at the moment, unless we give them.»
Trump has not yet responded to Microsoft's announcement.
The concern is that China will use applications such as TikTok, as well as companies based in China such as Huawei and ZTE, to spy on their international users. The United States has not provided any evidence that this is the case at the moment, but argues that if China demanded access to user data from companies in the country, those companies would have no choice but to comply.
TikTok responded suing the Trump administration. In August, Vanessa Pappas, general manager of TikTok USA, said in a video message that "we do not intend to go anywhere.»
