ByteDance reportedly offers to sell TikTok’s all US operations to avert ban
US President Donald Trump on Friday told reporters he will ban the popular video app TikTok from operating in the country. He further maintained that he could use emergency economic powers or an executive order saying that he has the authority.
A New York Times story revealed that the tech firm had previously offered to reduce its stake in the app to minimum level but it was rejected.
ByteDance’s offer to completely sell the operations in America was also reported by Reuters. However, it is yet unclear that the complete divestment offer would be taken as sufficient response to adminstrations’ concerns that the app could be used as tool for Chinese spy agencies.
Microsoft and other companies have been in talks to buy TikTok, the report said, adding that no final deal has been inked so far.
The proposed divestment would not necessarily affect the company’s operations outside the United States.
TikTok has 100 million users in the United States.