UPDATE - Apple Has No Interest In Buying Chinese Video Sharing App TikTok - Axios

WASHINGTON (Pakistan Point News / Sputnik - 04th August, 2020) Apple has no interest in buying TikTok, Axios reported on Tuesday, clarifying its own report from earlier in the day that the iphone maker might become a contender to microsoft in the purchase of the Chinese video sharing service.

"An Apple spokesperson told Axios there are no discussions about buying TikTok, and the company isn't interested," Axios said, updating its earlier report that Apple had expressed "serious interest" in purchasing the video sharing service which is available as an app on the iphone.

On Monday, Microsoft said that it plans to finish negotiations with ByteDance, the parent company of TikTok, on the purchase of the video-sharing application no later than September 15.

US President Donald Trump proclaimed September 15 as the deadline for the purchase to be completed or the US government will issue a ban over privacy concerns. Trump also told reporters on Monday that a substantial portion of the sale's proceeds, speculated in US media to be as high as $50 billion, should go to the US Treasury.