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Microsoft plans to finish its acquisition talks with TikTok within the next three weeks ahead of the Sept. 15 deadline. The deal could be worth up to $30 billion according to CNBC.
If the deal goes through, Microsoft has already agreed with the U.S. government to bring TikTok’s code from China to the U.S. within one year.
Faber also reported that the two sides haven’t landed on a price for TikTok yet, but it could be between $10 billion and $30 billion.
Treasury Secretary Steve Mnuchin is “deeply involved” in process, according to Faber. President Donald Trump has said that the U.S. Treasury should get a cut of the acquisition, but it’s unclear how that would work or if it’s even legal.
