ByteDance is working with US regulators to resolve outstanding security concerns over its planned sale of a stake in TikTok, and the companies involved are bracing for the approval process to drag on past the November election.
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A US judge has temporarily blocked a Trump administration order that was set to bar Apple and Google from offering Chinese-owned short video-sharing app TikTok for download on Sunday.
Just a few days ago, the TikTok deal looked like a win for China. Now its state-run media are denouncing it as “an American trap” and a “dirty and underhanded trick”.
Chinese state media blasted Oracle’s proposed deal with the hit video app TikTok, calling the agreement hammered out under pressure from the Trump administration a “dirty and underhanded trick”.
China is unlikely to approve an “unfair” deal Oracle and Walmart said they have struck with ByteDance over the future of video-streaming app TikTok, the state-backed Global Times newspaper said in an editorial.
The TikTok sale saga reached an apparent conclusion over the weekend when US President Donald Trump approved a deal. But the harmony was short-lived.
Doubts emerged on Monday about Oracle’s deal to take over TikTok as US President Donald Trump said he may still renege on his approval and the Chinese government signalled reluctance.
ByteDance has emphasised it will remain in control of a hived-off TikTok Global business, appearing to contradict US President Donald Trump’s statements about how the new entity will be directed by Americans.
US President Donald Trump said he supported a deal in principle that would allow TikTok to continue to operate in the US, even as it appeared to conflict with his earlier order for China’s ByteDance to divest the video app.
China’s ByteDance is planning a US initial public offering of TikTok Global, the new company that will operate the popular short-video app, should its proposed deal be cleared by the US government