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Microsoft's offer to buy US TikTok is rejected

September 13, 2020. Summarized by summa-bot.

The download page for ByteDance Ltd.'s TikTok app on the Apple Inc. App Store is displayed on a smartphone in an arranged photograph in Beijing, China, on Tuesday, Sept. 1, 2020. U.S. President??Donald Trump??said he's told people involved in the sale of the U.S. assets of??ByteDance's??TikTok??that the deal must be struck by Sept. 15 and the federal government must be "well compensated," or the service will be shut down. Photographer: Yan Cong/Bloomberg

ByteDance will not sell TikTok's US operations to Microsoft, according to Microsoft.

New York (CNN Business)ByteDance will not sell TikTok's US operations to Microsoft, according to Microsoft.

"We are confident our proposal would have been good for TikTok's users, while protecting national security interests," Microsoft (MSFT) said in a blog post.

ByteDance has not responded to a request for comment.

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