Microsoft in the Race to Save TikTok: Trump's Unfolding Drama

President Trump affirms Microsoft's interest in acquiring TikTok, a move to prevent an impending ban in April. Despite other potential buyers, details of governmental involvement remain unclear. Prominent investors have expressed interest as TikTok's owner ByteDance resists ownership changes amid national security debates.

In a bid to avert a looming ban, President Donald Trump confirmed on Monday evening that Microsoft is among the U.S. companies seeking to take control of TikTok. This follows Congress's demand for new ownership to keep the app operational in the United States.

Speaking aboard Air Force One, Trump expressed approval of bidding wars, indicating that multiple companies are interested in TikTok. Despite extending the deadline for TikTok's new ownership, details about whether the government or another entity will control the app remain unclear.

The president proposed that the ultimate purchaser give the U.S. a 50% stake. Meanwhile, the app's parent company, China-based ByteDance, has been resisting divestment. High-profile investors have shown interest, as the TikTok ownership debate stirs national security concerns.

(With inputs from agencies.)