- TikTok’s prospective buyers are discussing four ways to structure an acquisition from its Chinese owner ByteDance, which include buying its U.S. operations without key software, after Beijing stalled a deal which could be worth $30 billion, sources said.
ByteDance had been looking to pick a buyer for TikTok assets by this week so it can finalize a deal by mid-September and comply with President Donald Trump’s order to divest them, after U.S. officials raised concerns over the safety of the personal data of U.S. citizens handled by TikTok. ByteDance and the bidders for the TikTok assets are now discussing four ways to structure the deal, the sources, who requested anonymity, told Reuters.
Another option is to negotiate a transition period of up to a year with the Committee on Foreign Investment in the United States , which is overseeing the deal talks, the sources said. It is not clear, however, whether China’s new rules would allow this in the time frame required. ByteDance, Microsoft and Oracle declined to comment. The White House, CFIUS and China’s Commerce Department did not immediately respond to requests for comment.
TikTok has said it would not comply with any request to share user data with the Chinese authorities.
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did Jared, Donald Jr or Ivanka already mention what the kickbacks should be? VOTE QUIMBY!
Oh these guys were just in the office the other day. They couldn't come to an agreement with the big guy though.
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