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ByteDance to divest complete stake in TikTok to save US Deal: Reports

Aug 02, 2020 09:21 IST

China’s ByteDance has agreed to divest the US operations of TikTok completely in a bid to save a deal with the White House after President Donald Trump said he had decided to ban the short-video app, Reuters reported citing people familiar with the matter. ByteDance was previously seeking to keep a minority stake in the US business of TikTok, which the White House had rejected. Under the new proposed deal, Microsoft Corp would take over TikTok in the United States, the report said.

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