Microsoft has confirmed that it is continuing negotiations to purchase the US operations of Chinese company TikTok.
The tech giant was working to purchase the TikTok service in the US, Canada, Australia, and New Zealand after the negotiations. It also said that over American investors are likely to be invited to take part in the purchase “on a minority basis”.
Microsoft said that its boss Satya Nadella talked to President Donald Trump regarding the matter on Sunday. The tech firm said it “fully appreciates the importance” of addressing President Trump’s concerns.
It added that a full security review of the app will be conducted.
Apart from that, Microsoft also said that it will have to submit a list of the “proper economic benefits” to the country to the US government.
Microsoft mentioned that it would make sure that “all private data of TikTok’s American users” was transferred to and remained in the US. It would make sure that any information currently stored or backed up outside the country would be deleted from servers after it was transferred to US data centers.
It also said that Microsoft “appreciates the US Government’s and President Trump’s personal involvement as it continues to develop strong security protections for the country.”
However, Microsoft mentioned that current discussions are in the “preliminary” stage, and “no assurance” has been given yet that the purchase would proceed.
United States (US) President Donald Trump said he will ban social media app TikTok from the country as American authorities have raised concerns the service could be a tool for Chinese intelligence.