Trump extends deadline for Microsoft’s acquisition of TikTok

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Donald Trump extends the deadline for a takeover of TikTok by an American company. Currently, the most serious candidate for this acquisition is Microsoft. However, rumors suggest that Twitter is also interested, although its means will be more limited.

After sanctioning Huawei, Washington attacks TikTok. The social network has become extremely popular in the United States. But since it is offered by a Chinese company, called ByteDance, this concerns the US authorities.

The Trump administration is threatening to ban TikTok. But the social network could however avoid this ban if it is bought by an American company. And initially, the time limit was 45 days. But as reported by The Verge, Washington has decided to extend this period to 90 days, via a decree signed by Donald Trump.

More time for Microsoft?
Currently, the most serious candidate for an acquisition of TikTok is Microsoft. The Redmond firm has already formalized its intention to buy the social network. “Both companies have notified their intention to explore a preliminary proposal that would involve a purchase of the TikTok service in the United States, Canada, Australia and New Zealand and lead to Microsoft owning and operating TikTok in those markets. Microsoft may invite other US investors to participate in a minority in this purchase, “read a post published by Microsoft in early August.

However, Microsoft had also clarified that discussions with ByteDance should be concluded before the expiration of the first deadline granted by Donald Trump. And it is not known what motivated Washington to grant a new 90-day deadline instead of the 45 days previously announced.

In any case, it should be noted that according to the rumors, another company would be interested in an acquisition of TikTok: Twitter. According to some sources, the microblogging platform has also discussed with ByteDance on a proposed acquisition. However, the chances of TikTok being (even partially) taken over by Twitter would be slim, as Twitter could not afford to outbid a Microsoft offer.

And while talks are going on about an acquisition of TikTok, Facebook and Snap have reportedly been in talks with an app competitor: Dubsmash. Otherwise, as a reminder, Facebook already offers a feature similar to TikTok on Instagram.