Microsoft plans to finish its acquisition talks with TikTok within the next three weeks, ahead of the September 15 deadline, CNBC’s David Faber reported Wednesday. If the deal goes through, Microsoft has already agreed with the U.S. government to bring TikTok’s code from China to the U.S. within one year. Faber also reported that the two sides haven’t landed on a price for TikTok yet, but it could be between US$10 billion and US$30 billion. Microsoft could likely transfer TikTok’s software code, which could be up to 15 million lines of artificial intelligence, helping cement its position as the leading contender to acquire the company, Faber reported. TikTok has been under fire from the Trump administration, which has accused the Chinese-owned app of collecting data on Americans and sending it to the Chinese government.

Source: The Standard August 05, 2020 15:33 UTC