ByteDance says Beijing will have to approve TikTok’s US deal
- The process is expected to further complicate efforts by ByteDance to keep its short video-sharing app TikTok from getting banned by the Trump administration
- That follows a move by China’s Ministry of Commerce to add 23 items, including technologies that power TikTok’s recommendation engine, on its restricted list
“An outright sale of operations and technology is not included in the proposal [to the Trump administration] and a final deal has not been signed,” said ByteDance in a Chinese statement released to multiple state media, “In accordance with the laws, the final deal will need approval from relevant authorities in China and the US.”
Dismissing widespread speculation about the fate of TikTok in the US, ByteDance said: “The truth is that we are in talks with some companies about collaboration to address concerns on American user data security.”
Trump’s anti-China ‘posturing’ puts TikTok-Oracle deal in limbo, analysts say
A ByteDance representative declined to comment on Thursday.
US Treasury Secretary Steven Mnuchin said in an interview on CNBC on Monday that Oracle had made “a commitment to create ‘TikTok Global’ as a US-headquartered company that will include 20,000 jobs”.
Trump earlier this month said there would be no extension on his deadline for the sale of TikTok’s US business.