US In Talks With 4 Groups Over TikTok Sale
President Donald Trump stated on Sunday that the United States is in talks with four groups interested in acquiring TikTok, as the Chinese-owned app faces an uncertain future in the country.
A U.S. law has mandated that TikTok divest from its Chinese parent company, ByteDance, or face a potential ban in the United States.
When asked whether a deal would be reached soon, Trump told reporters, “It could be.”
“We’re dealing with four different groups. A lot of people want it, and it’s up to me,” he said while aboard Air Force One.
“All four are good,” he added, though he did not name the groups.
The law banning TikTok took effect on January 19, citing concerns that the Chinese government could use the platform to spy on Americans or influence U.S. public opinion.
TikTok temporarily suspended its services in the U.S. and was removed from app stores as the law’s deadline approached, frustrating millions of users.
Trump suspended the law’s implementation for two-and-a-half months after starting his second term in January, hoping to negotiate a solution with Beijing. As a result, TikTok resumed its service in the U.S. and returned to Apple and Google app stores in February.
Among the potential buyers for TikTok is “The People’s Bid for TikTok,” an initiative launched by Frank McCourt’s Project Liberty. Other interested parties include Microsoft, Oracle, and a group that features internet personality MrBeast, whose real name is Jimmy Donaldson.
TikTok, however, does not seem eager to proceed with a sale.
Trump had previously attempted to ban TikTok in the U.S. over national security concerns during his first term in office.
