ByteDance tries to evade the sell of TikTok

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ByteDance tries to prevent a sale of its American branch of film app TikTok. For this reason, the company is currently engaged in talks with the U.S. government, according to business newspaper The Wall Street Journal based on insider information.

According to sources, talks on an alternative plan have been going on for months. These negotiations came under additional pressure after the Chinese government took steps to make sales more difficult. The deadline that American president Donald Trump set earlier has already caused additional stress. ByteDance has to sell the American branch of TikTok until September 15. After that, the app gets banned.

The possible outcome is a restructuring of TikTok in the US. According to critics, the app would collect ‘too much data’ from its users, which could just fall into the hands of the Chinese government. If it is up to the US, the data will be kept out of the reach of Beijing.

According to the US government, only a sale is currently under way, as stated in a statement.

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Oliver I. Kjeldsen

Oliver I. Kjeldsen has a corporate finance and extensive expertise in company audit. He grants us amazing insights on taxation, international affairs and friendly advice on nearly any topic of interest. His email is [email protected]

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