8/5, 4:38 PM (Source: TeleTrader)
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Microsoft to pay $30B for TikTok - report

Microsoft could reportedly pay $30 billion for the acquisition of Chinese social network TikTok in the next three weeks. The two companies still didn’t come to the final agreement, but CNBC reported on Wednesday that the price could hover between $10 billion and $30 billion.

According to the report, Microsoft pledged to bring TikTok’s code from China to the United States in one year period with the Treasury Secretary Steve Mnuchin being "deeply involved" in the whole process.

The government in Washington has given Microsoft until September 15 to wrap up a deal with TikTok’s parent company on acquiring its US, Canada, Australia, and New Zealand operations.

Breaking the News / TF