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TikTok Must Sell U.S. Operations by Sept. 15 or Close, Trump Says

Added 08-04-20 08:04:03am EST - “"I don't mind whether it's Microsoft or someone else, a big company, a secure company, a very American company buys it," Trump said.” - Nationalreview.com

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Posted By TheNewsCommenter: From Nationalreview.com: “TikTok Must Sell U.S. Operations by Sept. 15 or Close, Trump Says | National Review”. Below is an excerpt from the article.

Absent a deal with Microsoft or another U.S. company TikTok will have to close its U.S. operations by Sept. 15, President Trump said Monday. 

“I don’t mind whether it’s Microsoft or someone else, a big company, a secure company, a very American company buys it,” Trump told reporters at the White House. “It’ll close down on Sept. 15 unless Microsoft or somebody else is able to buy it and work out a deal, an appropriate deal, so the Treasury of the United States gets a lot of money.”

The federal government will have to be paid an amount equal to a percentage of the deal, “whether it’s Microsoft or somebody else or it was Chinese,” he said. 

The president had initially said on Friday that he would be immediately ban the short-form video app on Saturday through an executive action. However, after speaking with Microsoft CEO Satya Nadella over the weekend, the president gave the company 45 days to work out a deal with ByteDance, the Chinese technology firm that owns TikTok. 

Microsoft is looking to purchase TikTok’s operations in the U.S., Canada, Australia, and New Zealand by the Sept. 15 deadline and, Microsoft said in a blog post Sunday, it might invite other American investors to take minority stakes in the deal.

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