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MICROSOFT CORPORATION

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TikTok's owner offers to forego stake - sources

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08/02/2020 | 07:02am EDT

As relations between the U.S. and China deteriorate, the short-video app TikTok has emerged as a flashpoint in the dispute between the world's two largest economies.

Now, the Chinese owner of the app, ByteDance has agreed to divest the U.S. operations of TikTok completely, in a bid to save a deal with the White House.

The latest developments are according to two people familiar with the matter.

It comes after President Trump said on Friday (July 31) he had decided to ban the popular video app.

U.S. officials have said TikTok under its Chinese parent, poses a national risk because of the personal data it handles.

ByteDance's concession would test whether Trump's threat to ban TikTok is a negotiating tactic...

or whether he's intent on cracking down on the app.

TikTok boasts it has 100 million users in the U.S.

ByteDance was previously seeking to keep a minority stake in the U.S. business of TikTok, which the White House rejected.

Under the new proposed deal, sources said ByteDance would exit completely and Microsoft would take over TikTok in the United States.

They added that some ByteDance investors that are based in the U.S. may be given the opportunity to take minority stakes in the business.

About 70% of ByteDance's outside investors come from the U.S.

ByteDance in Beijing and Microsoft did not respond to a request for comment.

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Financials (USD)
Sales 2021 157 B - -
Net income 2021 48 985 M - -
Net cash 2021 81 454 M - -
P/E ratio 2021 32,5x
Yield 2021 1,04%
Capitalization 1 581 B 1 581 B -
EV / Sales 2021 9,57x
EV / Sales 2022 8,52x
Nbr of Employees 163 000
Free-Float 98,6%
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Technical analysis trends MICROSOFT CORPORATION
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 36
Average target price 229,59 $
Last Close Price 208,90 $
Spread / Highest target 24,5%
Spread / Average Target 9,91%
Spread / Lowest Target -13,8%
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Managers
NameTitle
Satya Nadella Chief Executive Officer & Non-Independent Director
Bradford L. Smith President & Chief Legal Officer
John Wendell Thompson Independent Chairman
Kirk Koenigsbauer COO & VP-Experiences & Devices Group
Amy E. Hood Chief Financial Officer & Executive Vice President
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