ByteDance, TikTok’s parent company, is required to sell the app to a U.S.-based buyer or face a nationwide ban.

President Trump said he “would say yes” to Microsoft buying TikTok but maintained that there are many interested parties that will be bidding to buy the app before a 75-day extension to decide its fate expires in April.

Donald Trump seeks a "bidding war" for the app after years of pressure on ByteDance to sell its US operations over security concerns.

This story incorporates reporting from ABC, Shacknews and USA Today.President Donald Trump announced earlier this week that Microsoft is engaged in discussions with ByteDance to acquire TikTok.

Microsoft is in discussion to buy TikTok for a purported price of $100 billion (£80bn), US President Donald Trump revealed in a conversation with reporters yesterday. Microsoft has declined to comment.

Donald Trump is now being hailed as TikTok's savior after he tried to ban the app during his White House first term.

President Donald Trump is in talks with "numerous, very substantial people" about a TikTok deal - but not Oracle.

"There's no legal basis for any kind of 'extension'" to keep the popular social media app running, warned GOP Sens. Tom Cotton and Pete Ricketts on Sunday.

President Donald Trump said Monday evening that Microsoft is among the U.S. companies looking to take control of TikTok to help the popular app avert an effective ban that could kick-in in April.