Aug 3 (Lagos) - Microsoft is in talks to buy the US operations of TIK-TOK after the President threatened to place a list of Chinese apps on a ban in USA. If the President follows on with the decision it will join another democratic nation to do so.
India has already banned a list of Chinese Apps including TIK-TOK after the Chinese army occupied Indian territory and led to a physical stand-off with Indian army that resulted in deaths on both sides.
China has never allowed US Companies to operate in its territory. So this is a big shift going on in the tech world and stocks are rallying based on this new normal.
Microsoft shares rose 2% in pre-market trading in New York. TIK-TOK is very popular among the younger generation of users in USA and it will be a huge win for Microsoft if they go on to acquire the app as it will give them presence in social media that they always wanted. Shares of Facebook were slightly lower in pre-market trading today.
reporting for easykobo.com on Monday, Aug 3 2020 from Lagos, Nigeria