Microsoft is in talks to buy TikTok, confirms Trump
What's the story
US President Donald Trump has confirmed that tech giant Microsoft is in talks to buy the popular social media platform, TikTok.
The president said he wants a competitive bidding process over the app, which is owned by China's ByteDance.
He said "China won't be involved" in the negotiations.
The development comes amid national security concerns over the app's operations.
Past efforts
Trump's previous attempt to separate TikTok from ByteDance
Notably, this isn't the first time Microsoft has expressed interest in acquiring TikTok.
During his first term, Trump had ordered TikTok to separate its US operations from ByteDance over national security concerns.
Microsoft was a top contender in 2020, but the talks collapsed. The divestment plan also stalled when Trump left office later that year.
Executive action
Trump's executive order delays enforcement of TikTok sale law
With some 170 million Americans using TikTok, the app was briefly removed earlier this month.
This was just ahead of a law requiring its Chinese owner ByteDance to sell its US US business on national security grounds or face a ban starting January 19.
However, Trump signed an executive order pushing back the enforcement of this law by 75 days after taking office on January 20.
Potential buyers
Trump open to other potential buyers for TikTok
Trump has also indicated his willingness to consider other suitors for TikTok, including Tesla CEO Elon Musk and Oracle Corp. Chairman Larry Ellison.
However, at a recent press briefing, he denied reports that the Trump administration was working on a plan with Oracle and outside investors, including Microsoft, to take control of the app.