According to the source, the American business of the popular video service TikTok could be sold to Microsoft within 48 hours. Negotiations on the deal between ByteDance and Microsoft are close to completion, it will be formalized in the near future – those same two days.
The negotiations between Microsoft and ByteDance are in their final phase with today’s unexpected resignation of the head of TikTok Kevin Mayer – despite the fact that he became the chief executive officer of the video service just 3 months ago! According to CNBC, Mayer was excluded from the negotiations with Microsoft and Oracle – and this was the reason (or one of the reasons) for his dismissal.
Recall that the agreement, which the White House insists on, is the transfer of TikTok to an American company in the US, Canada, Australia and New Zealand. The current data of users of these countries, stored in the cloud, will be transferred to the US servers. And even the backup data will be migrated too. At the moment, different amounts of the transaction value are called – from 10 to 30 billion US dollars.