Source:https://www.scmp.com/news/world/united-states-canada/article/3255425/trumps-former-treasury-secretary-steven-mnuchin-putting-together-investors-buy-tiktok-report
WorldUnited States & Canada

Ex-Trump Treasury chief Steven Mnuchin pooling investors to buy TikTok: ‘It’s a great business’

  • The move comes after the US House of Representatives passed a bill that gives Chinese owner ByteDance 6 months to divest the app or face a ban
  • Beijing has sharply criticised the proposed legislation, giving no indication that it would allow a sale of TikTok

Agence France-Presse
Former US Treasury Secretary Steven Mnuchin says he is putting together an investor group to buy TikTok. Photo: AP

Steven Mnuchin, the former US treasury secretary under Donald Trump, said on Thursday he was preparing a buyout bid of TikTok, as Beijing blasted a bill moving through Congress that would force the sale of the Chinese-owned video-sharing app.

TikTok has soared in popularity worldwide, but its ownership by Chinese technology giant ByteDance – and alleged subservience to Beijing’s ruling Communist Party – has fuelled national security concerns in Western capitals.

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