TikTok might not be getting banned in the U.S. – but it could be bought instead.

Microsoft confirmed that it has held talks with Chinese company ByteDance to acquire its app TikTok in the U.S. Microsoft said it will keep working with the U.S. government on a deal and that it intends to conclude talks by September 15.
If it were to complete the deal, Microsoft could simultaneously resolve a recent controversy in Washington (President Trump days before said he planned to ban the app in the country over national security concerns) and gain power in consumer technology. ⁠
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The two companies have looked at Microsoft buying TikTok in the U.S., Canada, Australia and New Zealand, and Microsoft might offer other American investors to get involved in the acquisition.
⁠Cc:@cnbc