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    Israel and Iran agree on ceasefire – Trump

    Israel and Iran agree on ceasefire – Trump

    Breaking: Iran launches missiles at US bases in the Middle East

    Breaking: Iran launches missiles at US bases in the Middle East

    US military strikes Iran

    US military strikes Iran

    EFCC seeks transfer of Orji Uzor Kalu’s trial to Lagos

    Yahoo boys launder money for ‘politically exposed persons’ – EFCC boss

    Gombe receives N60 billion from FG to establish Agro-Livestock Industrial Zone

    Gombe receives N60 billion from FG to establish Agro-Livestock Industrial Zone

    Student Loan Act: How to apply for the loan, all you need to know

    The increased prices of driver’s licenses, number plates set to take effect

    Trump congratulates Nigeria for Banning Twitter, says more countries should do same

    Trump bans citizens of 12 countries from entering the U.S, full list

    France launches mandatory online visa appointments for travelers

    France launches mandatory online visa appointments for travelers

    Federal Government declares June 6 and 9 public holidays

    Federal Government declares June 6 and 9 public holidays

    • Nigeria
    • Africa
    • World
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    • All
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    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

    Air Sierra Leone commences flight operations to Lagos

    Air Sierra Leone commences flight operations to Lagos

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

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    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2025, qualification and payment dates

    Sovereign Trust Insurance Plc grows Profit after tax by 43%  in Q1 2021

    Sovereign Trust Insurance Plc appoints Abimbola Oguntunde as New Board Chairman

    FY 2020: Zenith Bank Plc rakes in N230.6 billion profit after tax

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    Dangote Petroleum Refinery to begin distribution of PMS and Diesel nationwide

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    United Capital Group expands into Francophone West Africa

    List of Dividends announced in 2024, qualification and payment dates

    Cornerstone Insurance Plc to pay 27 kobo final dividend for 2024 FY

    Legend Internet Plc reports N32.9 million profit for Q1 2025

    Legend Internet Plc reports N32.9 million profit for Q1 2025

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    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

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    DMO offers N300 billion FGN bond for auction in May

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    CSCS Plc explores listing on the Nigerian Exchange (NGX)

    NGX Daily Equities Market Report: Market gains for third consecutive days

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    BITCOIN hits $103,000 for the first time

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    Bitcoin (BTC) rises above US$90,000 records a new all time high

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    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

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    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

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Microsoft Shares rise on TikTok aquisition as Trump okays deal

Monday, 3 August 2020, 9:08 pm
in Business, Companies
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Microsoft Shares rise on TikTok aquisition as Trump okays deal
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The share price of Microsoft continues to rise on Monday, surpassing its 52 week high price, after it confirmed on Sunday that it was continuing with talks to buy TikTok, the popular social-media platform’s U.S operations.

Microsoft market capitalization has risen above $1.6 trillion dollars as the share price rose by over 5%, selling at $217.64 per share at one point.

According Microsoft, it plans to finalize the discussions with TikTok’s parent company, ByteDance by 15 September 2020. The proposal involves a purchase of the TikTok service in the United States, Canada, Australia, and New Zealand and would result in Microsoft owning and operating TikTok in these markets.

Microsoft added that the talks would continue following a discussion between Microsoft CEO Satya Nadella and President Donald Trump.

“Microsoft fully appreciates the importance of addressing the President’s concerns,” Microsoft said. “It is committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury.”

“The discussions with ByteDance will build upon a notification made by Microsoft and ByteDance to the Committee on Foreign Investment in the United States (CFIUS). The two companies have provided notice of their intent to explore a preliminary proposal that would involve a purchase of the TikTok service in the United States, Canada, Australia, and New Zealand and would result in Microsoft owning and operating TikTok in these markets. Microsoft may invite other American investors to participate on a minority basis in this purchase.

“This new structure would build on the experience TikTok users currently love, while adding world-class security, privacy, and digital safety protections. The operating model for the service would be built to ensure transparency to users as well as appropriate security oversight by governments in these countries,” according to Microsoft.

 Have you read?

  • Cement Manufacturing off the Pioneer Status Incentives
  • Fitch Revises United States’ Outlook to Negative; Affirms at AAA

Shares of Microsoft have gained over 35% year-to-date.

Source; NYSE

President Trump who has threatened to ban TikTok from operating in the United States over securities concerns on Monday gave his verbal approval to a potential deal between TikTok and an American company like Microsoft but said TikTok had until Sept. 15 to close such a deal or face a U.S. ban.

“Here’s the deal. I don’t mind if — whether it’s Microsoft or somebody else — a big company, a secure company, a very American company buys it,” Trump told reporters at the White House. “It’s probably easier to buy the whole thing than to buy 30 percent of it.”

Treasury Secretary Steven Mnuchin, who chairs the Committee on Foreign Investment in the United States, said Sunday that Republican and Democrat leaders “all agree there needs to be a change.”

“I’ve said publicly that it’s under review. I will say publicly that the entire Committee agrees that TikTok cannot stay in the current format because it risks sending back information on 100 million Americans” Mnuchin told ABC.

Written by;

Ifunanya Ikueze

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