ByteDance offers to sell TikTok's US ops as Trump ban looms: report




  • In Business
  • 2020-08-01 16:03:46Z
  • By AFP
As President Donald Trump says he will ban TikTok from operating in the United States over national security concerns, ByteDance has reportedly offered to sell off that part of its business
As President Donald Trump says he will ban TikTok from operating in the United States over national security concerns, ByteDance has reportedly offered to sell off that part of its business  

San Francisco (AFP) - ByteDance, the Chinese parent company of wildly popular TikTok, has offered to sell the app's US operations as a way to avert a ban by the government of President Donald Trump, The New York Times reported Saturday.

After weeks of rumors and pressure, Trump said Friday he was preparing to bar the app from operating in the United States, perhaps by executive order on Saturday.

Earlier, media reports had suggested Trump would require that the US operations of the app be divested from ByteDance, but he instead announced a ban.

But the Times report, citing an unnamed source familiar with the matter, goes further to say that ByteDance has offered to do so.

The proposed divestment would not necessarily affect TikTok's operations outside the United States, the report said.

TikTok, especially popular with young audiences who create and watch its short-form videos, has an estimated one billion users worldwide.

But US officials have raised concerns that it could be used as a tool for Chinese intelligence -- a claim the firm has repeatedly denied.

"While we do not comment on rumors or speculation, we are confident in the long-term success of TikTok," the company said when asked for comment on the Times report.

Some reports have indicated that Microsoft is in advanced talks to buy TikTok.

COMMENTS

More Related News

Exclusive: U.S. ban on TikTok could cut it off from app stores, advertisers - White House document
Exclusive: U.S. ban on TikTok could cut it off from app stores, advertisers - White House document

President Donald Trump's executive order banning China's TikTok could prevent U.S. app stores from offering the popular short-video app and make advertising on the platform illegal, according to a White House document seen by Reuters. Trump signed an order last week prohibiting transactions with TikTok if its parent ByteDance does not reach a deal to divest it in 45 days. It did not specify the scope of the ban, stating only that the U.S. Department of Commerce would define which transactions would be barred at the end of the 45-day period.

Trump attacks Kamala Harris over Kavanaugh hearings in first remarks since she was named Biden
Trump attacks Kamala Harris over Kavanaugh hearings in first remarks since she was named Biden's running mate

Trump's comments come after the Biden campaign announced Harris as his running mate this fall.

What
What's happened to your second coronavirus stimulus check?

Treasury Secretary Mnuchin says new payments can be sent quick. So where are they?

What Happens to the Economy Without a Washington Lifeline?
What Happens to the Economy Without a Washington Lifeline?

A massive dose of government aid has been helping prop up the U.S. economy in the face of the coronavirus pandemic and the shutdowns it forced. But with any additional federal cash infusions now caught up in stalled negotiations between the White House and congressional Democrats - and with the executive actions signed by President Trump this weekend expected to deliver limited relief at best - the U.S. economy faces significant risks, economist warn."We are increasingly concerned that this best-they-can do stimulus from the White House will never make it fully to the execution stage and the economy will be left to sink or swim on its own," Chris Rupkey, chief financial economist at...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: Business