The Chinese government is contemplating a strategy involving Elon Musk acquiring TikTok's operations in the United States, according to a Bloomberg News report on Monday. This contingency plan is one of several options China is evaluating as the U.S. Supreme Court deliberates on whether to uphold a law that could effectively ban TikTok within the U.S. The report indicates that China is exploring various options as the U.S.
Supreme Court considers whether to endorse a law requiring ByteDance, the Chinese parent company of TikTok, to divest its U.S. business by January 19th. After this deadline, third-party internet service providers would face penalties for facilitating TikTok's activities in the country.Under this proposed plan, Musk would assume control of both X, which he currently possesses, and TikTok's U.S. operations, Bloomberg stated. However, Chinese government officials haven't reached a definitive decision on whether to proceed with this plan, as the report emphasizes that it is still in its preliminary stages. It remains unclear if ByteDance is aware of the Chinese government's intentions regarding TikTok, Musk's potential involvement, and the discussions surrounding this contingency plan. Senior Chinese officials are engaged in debates about various contingency plans for TikTok's future in the U.S., which are intertwined with broader discussions about collaborations with the incoming administration.A TikTok spokesperson responded to CNBC's email inquiry stating, 'We can't be expected to comment on pure fiction.' X did not immediately respond to a request for comment. TikTok's legal representatives have argued that the law infringes upon the free-speech rights of its millions of U.S. users, while the U.S. government contends that ByteDance's ownership of TikTok poses a national security threat. Given the Supreme Court's apparent inclination towards supporting the government's stance, TikTok might seek recourse from Trump, upon his inauguration for a second term on January 20th. Trump, who advocated for a TikTok ban during his initial administration, has since reversed his position. Late last month, he urged the Supreme Court to intervene and postpone the implementation of Biden's ban, granting him time to seek a 'political resolution.' Trump has expressed interest in collaborating with billionaire Jeff Yass, a major GOP donor and a significant ByteDance investor who also holds a stake in the owner of X
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Chinese Government Considers Elon Musk Acquisition of TikTok's US BusinessIn a surprising development, the Chinese government is reportedly exploring a plan for Elon Musk to acquire TikTok's US operations amidst the ongoing legal battle surrounding the app's fate in the United States. This contingency plan is being considered as the US Supreme Court prepares to rule on a law that could effectively ban TikTok in the country. The report, citing anonymous sources, details how the Chinese government is evaluating several options for TikTok's future in the US. One such option involves Musk overseeing both X, the social media platform he currently owns, and TikTok's US business. However, the report emphasizes that this plan remains preliminary and Chinese officials have yet to make a final decision. The involvement of ByteDance, TikTok's parent company, and Musk in these discussions remains unclear. This news emerges as the US Supreme Court reviews a law passed in April that requires ByteDance to divest TikTok's US operations by January 19th. The court's decision is expected to have a significant impact on TikTok's future in the United States.
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