A new report says that Microsoft is expanding its acquisition interest in TikTok to include the entire global business, but a source says it isn't true
- The Financial Times reported Thursday that
Microsoft— the frontrunner in talks to acquire TikTok's US operations — is interested in buying the app's entire global business.
- However, a person familiar with the matter told Business Insider the report is "completely false."
- TikTok has more than 2.3 billion downloads globally. Reports have recently valued TikTok in its entirety between $30 billion to $50 billion.
- TikTok's parent company,
ByteDance, has been exploring a deal to sell off TikTok's US operations to get in front of threats from the Trump administration to ban the app over perceived national security risks due to its ties to China.
Microsoft is the frontrunner in a deal to acquire TikTok's US operations, but a recent report hints that the company could be looking at taking over the the viral app's entire global operations.
However, a person familiar with the matter told Business Insider the report is "completely false."The Financial Times reported Thursday morning that Microsoft has expressed interest in buying up all of TikTok's global operations. Previously, Microsoft publicly confirmed it was in negotiations to acquire TikTok's operations in four countries: the US, Canada, Australia, and New Zealand.
TikTok has more than 2.3 billion downloads globally, including massive bases in India and Europe. TikTok, a product of Chinese parent company ByteDance, is not available in China: ByteDance runs a similar app there called Douyin, which the Financial Times reports would not be part of the deal.Microsoft declined to comment. ByteDance did not respond immediately to a request for comment.
CNBC reported earlier this week that the two companies were looking to finish up acquisition talks within the next three weeks. However, the Financial Times' report could show that negotiations may not be as close to a deal as previously thought.ByteDance is holding discussions with Microsoft and other US tech companies as it scrambles to find a buyer of its operations in the US. Microsoft has led
This story is developing. Check back for more updates ...
- Pidilite shares surge as the 61-year old company acquires Araldite maker for ₹2,100 crore
- Chennai lashed with rainfall, many roads waterlogged
- Pinterest stock soars 23% as the social media platform garners 442 million global monthly active users
- Top stock movers — Bharti Airtel, RBL Bank, Pidilite, Titan, Hero Motocorp, Asian Paints, TCS, L&T and others
- Manforce Condoms aims to capture 50% market share by 2023