Microsoft and TikTok: Trump demands money on takeover
In the last few days, Microsoft’s takeover ambitions towards TikTok have made big waves. Especially US President Donald Trump was anything but happy about the fact that the huge US-American tech company wants to buy the app from the Far East. Now he announced that he will only agree to a takeover of the Chinese company if the government also earns money from the deal.
A clear condition
Trump has announced a very clear condition for the government to “go” with a takeover of TikTok. The US Treasury Department must also be able to benefit from the purchase of the US TikToks business. Trump announced in a statement on Monday that a lot of money would have to come out for the government. Microsoft itself had made its takeover plans public on Sunday. They want to take over the entire English-speaking area of the app, which is especially popular among teenagers. They also stated that there has already been a conversation with Trump
Trump sets a deadline
Forever Microsoft does not have time to take over the US business of TikTok. Trump is making clear demands here as well. For example, he said that Microsoft must complete the deal by September 15. Otherwise he would issue an order to discontinue TikTok’s operations in the USA. According to Trump, who will finally take over the app doesn’t matter at all. What is important to him is that the deadline is met.
High shares of profit for Treasury Department ?
Regardless of the amount of the final purchase price, Trump is definitely demanding that a “very substantial portion” ends up in the Treasury coffers. After all, he says, he makes it possible for this deal between Microsoft and TikTok to come about in the first place. It remains to be seen whether the deal will actually come about in the end. Trump’s new statements also make it interesting to see how the US Treasury will actually benefit from the takeover. We will keep you up to date.