Bytedance, Microsoft put TikTok talks on hold after President signals opposition

The deal between ByteDance and Microsoft, for the sale of former’s TikTok business in the USA, has been put on hold after the USA president said that he would not allow the deal to go through and being intent on a ban. Microsoft, under the deal, was to take control of the data of US-based users and allowed another company to operate TikTok in the US. ByteDance bid to retain a minority stake was abandoned after the White House rejected the proposal.

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