Microsoft Corp. has paused negotiations to buy the U. S. operations of the video-sharing app TikTok after President Trump said late Friday he opposed the deal, according to people familiar with the matter.
The president’s statements spurred TikTok to make additional concessions, including agreeing to add as many as 10,000 jobs in the U. S. over the next three years, but it isn’t clear if those will alter Mr. Trump’s stance, one of the people said. The founder of TikTok parent Bytedance Ltd., Zhang Yiming, also agreed to sell his stake as part of any deal, the person said.
Mr. Zhang was going to retain a minority stake under the deal being discussed before Mr. Trump’s remarks, the person said.... (Read more)
Submitted 10 days ago