The game enters the final phase. The TikTok saga is nearing a finish. President Donald Trump has confirmed that is in no mood to extend the deadline he gave to ByteDance to sell off its US based assets.
In other words, the TikTok deal has run into complications.
American firms like Microsoft and Oracle have shown their willingness to buy the popular short video sharing app that has an estimated 80 million users in the United States. However, the famous Chinese social platform has had a hard time lately, being embroiled in politics.
The US President had signed an executive order that bans transactions with the parent companies of TikTok and WeChat, namely ByteDance and Tencent respectively.
When asked about an extension, Trump remained firm:
“We’ll see what happens. It’ll either be closed up or they’ll sell it.”
The order has to come into effect 45 days from the signing. The deadline is September 20, meaning the ByteDance has only 9 days to finalize the deal, otherwise it will face a complete ban.
TikTok has also been under fire lately over suspicion that China could force the company to hand over its user data, but a company spokesperson has denied these claims saying that it has never provided user data to the Chinese government, nor would it do so if asked.
We’re in the endgame now!