Beijing opposes forced sale of TikTok’s US operations by its Chinese owner ByteDance, and prefers to watch the short video app closed in the US Reuters reports, citing “three people with direct knowledge of the case.”
ByteDance has been in talks to sell TikTok’s US business to potential buyers including Microsoft and Oracle since US President Donald Trump threatened last month to ban the service if it was not sold. Trump has given ByteDance a deadline of mid-September to complete a deal.
However, Chinese officials believe that a forced sale will make both ByteDance and China seem weak in the face of pressure from Washington, the sources said and said on condition of anonymity given the sensitivity of the situation … Two of the sources said that China was willing to use revisions it made to a technology export list on August 28 to postpone any agreement reached by ByteDance, if necessary.
Last month, Trump issued two orders demanding that ByteDance sell TikTok’s US assets or faces that are banned in the country, where the app is hugely popular with teens. U.S. officials have criticized the app’s security and privacy, suggesting that user data could be shared with Beijing.
MacDailyNews Take: The saga continues – for a few more days, at least.