The Bytedance Chinese technological giant is struggling with a limited time for the sale of the American part of its flagship product – the Tiktok application. President Donald Trump in January erected an ultimatum, requiring the company to find a buyer from outside China until April 4 to avoid a ban on operations in the United States, which was to be introduced under the Act of 2024.
On Thursday, Trump suggested that the solution to the issue of Tiktok is close, indicating the involvement of many investors in negotiations. Although the details of the transaction remain undisclosed, the president announced that the official announcement would take place at a convenient moment for him.
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Who will take over Tiktoka?
Meanwhile, last week, Reuters wrote about the potential interest from Blackstone (BX.N), a private equity investment company that is considering a minority investment in the American branch of Tiktok.
In February, Reuters informed that TIKTOK talks about the future are focusing around the plan, according to which the main investors from outside China in Bytedance could increase their shares and take control of American application operations for short video films.
In addition, Trump noted that in the case Tiktok contacted four different groups, although he did not give their names.
The tense situation around Tiktok occurs in the context of more and more intense trade tensions between the USA and China, which manifest themselves, among others 10 % imposing by Trump administration Customs tariffs for imports to the USA and higher duties for products from some countries, including China, where duties reached 54 percent.
