clinch

Exclusive: Trump gives Microsoft 45 days to clinch TikTok deal

NEW YORK/WASHINGTON (Reuters) – President Donald Trump only agreed to allow Microsoft Corp (MSFT.O) to negotiate the acquisition of popular short-video app TikTok if it could secure a deal in 45 days, three people familiar with the matter said on Sunday.

FILE PHOTO: People walk past a logo of Bytedance, the China-based company which owns the short video app TikTok, or Douyin, at its office in Beijing, China July 7, 2020. REUTERS/Thomas Suen/File Photo

The move represents an about-face for Trump and prompted the U.S. tech giant to declare its interest in the blockbuster social media deal that could further inflame U.S.-China relations. Trump said on Friday he was planning to ban TikTok amid concerns that its Chinese ownership represents a national security risk because of the personal data it handles.

The proposed acquisition of TikTok, which boasts 100 millions U.S. users, would offer Microsoft a rare opportunity

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Exclusive: TikTok’s Chinese owner offers to forego stake to clinch U.S. deal – sources

NEW YORK/WASHINGTON (Reuters) – China’s ByteDance has agreed to divest the U.S. operations of TikTok completely in a bid to save a deal with the White House, after President Donald Trump said on Friday he had decided to ban the popular short-video app, two people familiar with the matter said on Saturday.

FILE PHOTO: TikTok logos are seen on smartphones in front of a displayed ByteDance logo in this illustration taken November 27, 2019. REUTERS/Dado Ruvic/Illustration/File Photo

U.S. officials have said TikTok under its Chinese parent poses a national risk because of the personal data it handles. ByteDance’s concession will test whether Trump’s threat to ban TikTok is a negotiating tactic or whether he is intent on cracking down on a social media app that has up to 80 million daily active users in the United States.

Trump told reporters onboard Air Force One late on Friday that he would

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Exclusive: ByteDance offers to forgo stake in TikTok to clinch U.S. deal – sources

FILE PHOTO: TikTok logos are seen on smartphones in front of a displayed ByteDance logo in this illustration taken November 27, 2019. REUTERS/Dado Ruvic/Illustration/File Photo

NEW YORK (Reuters) – China’s ByteDance has agreed to divest the U.S. operations of TikTok completely in a bid to save a deal with the White House, after President Donald Trump said on Friday he had decided to ban the popular short-video app, two people familiar with the matter said on Saturday.

ByteDance was previously seeking to keep a minority stake in the U.S. business of TikTok, which the White House had rejected. Under the new proposed deal, ByteDance would exit completely and Microsoft Corp would take over TikTok in the United States, the sources said. Some ByteDance investors that are based in the United States may be given the opportunity to take minority stakes in the business, the sources added.

The White House did

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Italy struggles to clinch deal for single broadband network: sources

ROME (Reuters) – The Italian government needs more time to broker a deal between former phone monopoly Telecom Italia (TLIT.MI) and state-controlled utility Enel (ENEI.MI) over plans to create a single ultrafast broadband network, three sources told Reuters.

TIM has been in talks for months over a merger of its last-mile fibre assets with those of smaller rival Open Fiber, controlled by Enel and state lender Cassa Depositi e Prestiti (CDP).

To end the stalemate, Economy Minister Roberto Gualtieri asked the two companies to sign a Memorandum of Understanding (MOU) by the end of July, sources told Reuters.

Enel CEO Francesco Starace met Treasury representatives early on Friday, people close to the matter said, but issues regarding governance and regulation are still clouding the horizon.

TIM and Enel declined to comment.

TIM, which has its own retail business, has said it wants to keep control of

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