President Donald Trump said the negotiations were underway with numerous possible buyers for the US business of Tiktok – with a deal that is probably materializing soon.
Trump told reporters on the Air Force Board a Sunday that four different groups were in discussions to get the popular video sharing platform.
“We are dealing with four different groups, and many people want it,” Trump said.
While he did not specify the names of the bidders or showed his preference, he noted, “all four are good.”
Tiktok, owned by bytedance Ltd. Based on Beijing, he faces April 5 deadline to divert his operations in the US or endanger a nationwide detention under the legislation adopted during the Biden administration.
Some obvious bidders are reported to have appeared. Trump previously mentioned the founder of Oracle Corp. Larry Ellison as a potential player. Tiktok already collaborates with Oracle for receiving US user data.
A consortium led by Moguli billionaire of real estate Frank McCourt and co -founder of Reddit Alexis Ohranian is also among the claimants.
According to Bloomberg News reports, Chinese officials have considered a scenario in which Elon Musk adopts Tiktok’s operations in the US, though they remain strongly in favor of holding the platform under the control of Bytedance.
Musk, the owner of the Social Media Platform X, has publicly dismissed interest in such a purchase.
Another offer includes that of San Francisco -based fraud. Other competitive groups include one run by Jesse Tinsley, which also contains Youtube Star Jimmy Donaldson – best known as Mrbeast.
With the US that serves as the largest and most profitable market of tiktok, the shares are high.
Last year, the American wing of Tiktok was estimated to be up to $ 50 billion. Bytedance also operates a similar platform, douyin, exclusively in China.
Trump has signaled a willingness to extend the deadline if necessary, as it has already delayed the initial interruption of January 19 to prevent a sudden closure.
As part of the negotiations, Trump has navigated the idea that the US government should take a 50% stake in Tiktok as a condition of each sale.
However, Bytedance has not shown any interest in selling its operations in the US.
The Director General of Tiktok Shou Chew met with Trump at Mar-a-Lago and also participated in his inauguration in an effort to encourage himself with the president.
Chew lobbying comes amidst the company’s continued efforts to navigate the US regulatory control.
Bytedance has worked to address national security concerns among US lawmakers to maintain its foundations in the country.
The company kept private is currently valued at over $ 400 billion, according to investors such as Softbank Group Corp.
Chinese-based technology giant recently bought employee shares with a $ 312 billion estimate-a sign of its growing confidence in expansion plans.
Saledo possible sale of US tiktok operations would also require approval by the Chinese government, which has so far been resistant to such a move.
The post has requested comment from Tiktok.
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