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Microsoft Corporation (NASDAQ:MSFT) is looking to buy all of TikTok’s global operations, and not just in four countries as previously indicated, according to a Financial Times report Thursday.
What Happened
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The Redmond, Washington-based company is looking to scoop up the short-form video app’s entire operations, including in India and Europe, according to five unnamed Financial Times sources.
This deal would reportedly not include China, as TikTok is not available there. ByteDance runs a separate app, dubbed "Douyin," in China, offering similar services as TikTok.
The difficulty in separating back-office operations and usability of the app on a global basis are said to be the motivations driving Microsoft’s attempts to secure the app in its entirety.
The talks remain focussed on the United States, Australia, Canada, and New Zealand, according to Bloomberg’s sources.
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Why It Matters
The Satya Nadella-led company has until September 15 to conclude the deal with TikTok, which has more than 500 million global users with 80 million of them active in the U.S.
President Donald Trump said this week that he would approve the deal if the U.S. Treasury received “a lot of money,” demanding a cut from the buyout.
A White House source familiar with the deal pegged TikTok’s global business to be worth nearly $50 billion. Analysts and bankers estimate the U.S. business to be worth between $15 to $50 billion, Bloomberg noted.
ByteDance may sell the app’s Indian operations, TikTok’s largest, to foreign or Indian investors if the agreement with Microsoft fails to materialize, according to the Financial Times report.
Price Action
Microsoft shares closed 1.6% higher at $216.35 on Thursday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.