ByteDance presently has till April 5, 2025 to divest its stake in TikTok to a US-based firm as per US President Donald Trump’s govt order from earlier this week. Whereas the app continues to be obtainable to make use of freely within the US, it’s been faraway from the App Retailer and Google Play. There are many suitors prepared to purchase TikTok however one ByteDance board member believes there’s nonetheless an opportunity for an answer that doesn’t contain promoting the social media app.
Invoice Ford, who serves as chairman and CEO of Normal Atlantic fairness agency and can be a member of ByteDance’s board of administrators, is optimistic that the Chinese language tech large might attain a compromise resolution to maintain management of TikTok with out divesting to a US entity. Ford’s optimism stems from reported talks between the newly elected US President Donald Trump and his Chinese language colleague Xi Jinping.
The chief suggests {that a} “change of control of some kind” isn’t out of the query for TikTok, however ByteDance is actively wanting to make sure it will possibly proceed to function within the US with out promoting. It stays to be seen how ByteDance can pull this off provided that the regulation which handed earlier this yr mandates a sale to a US-based firm.
Supply (paywall)
