China’s ByteDance has agreed to divest the US operations of TikTok Entirely in a bid to save a Bargain with the White House, Following US President Donald Trump said on Friday he had Determined to ban the popular short-video Program, two people Knowledgeable about the matter said on Saturday.
ByteDance was formerly trying to maintain a minority stake in america company of TikTok, which the White House had refused.
Under the new proposed bargain, ByteDance would depart entirely and Microsoft would take over TikTok in the USA, the sources stated. Some ByteDance investors who are located in the USA could be given the chance to take minority stakes in the organization, the sources added.
The White House didn’t respond to a request for comment on if Trump would take ByteDance’s concession. ByteDance in Beijing didn’t respond to a request for comment
Beneath ByteDance’s new proposition, Microsoft will probably be responsible for protecting most of US user information, the sources stated. The program allows for a different US business besides Microsoft to take over TikTok from the USA, the sources added.