China’s ByteDance is reportedly prepared to sell 100% of TikTok’s U.S. operations to head off a proposed ban on the app by President Trump.
In reportedly preparing an order to force TikTok’s Chinese parent company to sell it off, the Trump administration chooses a peculiar cyberdefense beachhead in an emerging battle over information espionage.ByteDance is now waiting on the administration to approve Microsoft Corp.’s potential acquisition of TikTok, said one person, who wasn’t authorized to speak publicly about the matter.
A deal would give the software company a popular social media service and relieve U.S. government pressure on the Chinese owner of the video-sharing app — although Trump seemed to throw cold water on the plan in his remarks on Friday. Microsoft’s move is “not the deal that you have been hearing about, that they are going to buy and sell, and this and that. And Microsoft and another one. We’re not an M&A [mergers and acquisitions] company,” Trump told reporters aboard Air Force One.statement thanking users for their support and promising the company “isn’t going anywhere.”“We’re here for the long run,” Pappas said, noting that the company plans to add 10,000 U.S. jobs to its 1,500 workforce over the next three years.
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Trump to order China’s ByteDance to sell its share of TikTokPresident Trump will reportedly order China’s ByteDance Ltd. to divest its ownership of the popular U.S.-based video app TikTok.
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Exclusive: TikTok owner ByteDance considers listing China business in Hong Kong or Shanghai - sourcesChinese tech giant ByteDance is considering listing its domestic business in Hong Kong or Shanghai, people familiar with the matter told Reuters, against a backdrop of rising Sino-U.S. tensions over its hit non-China video app TikTok.
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Exclusive: ByteDance offers to forgo stake in TikTok to clinch U.S. deal - sourcesChina's ByteDance has agreed to divest the U.S. operations of TikTok completely in a bid to save a deal with the White House, after President Donald Trump said on Friday he had decided to ban the popular short-video app, two people familiar with the matter said on Saturday.
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Trump to ban China-owned TikTok from USUS President Trump's move comes following a review by the Committee on Foreign Investment in the United States, which investigates deals affecting US national security.
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Microsoft Reportedly Considering Buying TikTok As Trump May Force U.S. SaleI am a Texas native covering breaking news out of New York City. Previously, I was a Forbes intern in London. I am an alum of City, University of London and Texas State University.
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Microsoft In Talks To Buy Teen Fave TikTok As Trump Ramps Up PressureMicrosoft is in talks to acquire TikTok, the hugely popular Chinese-owned app, just as the Trump administration considers taking action against the app — including banning it.
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