Base Read

The Chinese Government would rather close TikTok than Sell

Officials worry that the sale will make ByteDance and China "appear weak."

0 47

The Chinese Government would rather close TikTok than Sell

China may be frustrated again in TikTok’s efforts to ensure its future in the United States. According to Reuters, officials in the country opposed the sale of the product, preferring to see the app banned rather than being sold to a US company.

The report quoted “three people with direct knowledge of the matter” as saying, “Chinese officials believe that in the face of pressure from Washington, forced sales will make Bytedance and China appear weak.”

Only a few days have passed since Donald Trump’s September 15 deadline for TikTok to find a new house in a US company. Experts say that reaching an agreement is unlikely to achieve this goal soon, but Trump said on Thursday that he will not extend the deadline.

Tiktok

China’s new trade rules further complicate the situation, which may prevent buyers from obtaining TikTok’s recommendation algorithm.

Reuters reported that China is prepared to use this policy to “delay any transactions concluded by ByteDance.”

The company is currently accepting offers from Oracle, Microsoft, and Wal-Mart, and they have already bid. According to reports, the current owner of TikTok, ByteDance, is considering transactions that do not include the application algorithm.

A ByteDance spokesperson said in a statement: “The Chinese government has never advised us that the company should close TikTok in the United States or any other market.” Vanessa Pappas, TikTok’s current top management in the United States, previously stated that the company believes It has “multiple paths forward“, which will allow the application to remain in the United States.

Read this article for free
This article is part of our archive of over 1,000 stories and is only available to subscribers. To get a preview of the work we do, you can enter your email to access the full article.
You can unsubscribe at any time

Leave A Reply

Your email address will not be published.