TikTok and Microsoft deal may be concluded in the next 48 hours

News Global Network reported on August 27 that US CNBC just broke the news that according to a source, TikTok CEO Kevin Mayer (Kevin Mayer) was excluded from the company and Microsoft Resigned outside of the deal negotiation with Oracle.

In addition, multiple sources also told CNBC that Meyer’s resignation indicated that TikTok is likely to reach a sale with Microsoft within the next 48 hours. Microsoft’s stock price soared 3.4%.

The TikTok transaction is expected to take place in the next few days, and the transaction size may be between 20 billion and 30 billion US dollars.

Today, TikTok CEO Kevin Mayer resigned, and Vanessa Pappas, the current general manager of TikTok, will serve as the interim head.

Naijatechnews previously reported that on August 24, local time, Tiktok formally filed a lawsuit against Trump’s first executive order issued on August 6 . TikTok said in a press release: “We will not sue the government lightly, but we have no choice but to take action to protect our rights, as well as the rights of our community and employees.”

Trump’s executive order prohibits American individuals and companies from trading with TikTok and its Chinese parent company, Bytedance, and related transactions will be banned after 45 days (September 20) .