Technology

ByteDance may miss U.S. deadline for TikTok deal, says Bloomberg

The company likely needs beyond the U.S. executive order ban on September 20 to reach an agreement with Microsoft or Oracle

REUTERS/Dado Ruvic
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  • The Trump administration is seeking to ban TikTok unless ByteDance sells the short-video app’s U.S. operations;
  • New Chinese regulations have complicated deal talks with bidders.

ByteDance is likely to miss the deadline imposed by the Trump administration for the sale of TikTok‘s U.S. assets as new Chinese regulations have complicated deal talks with bidders Microsoft and Oracle, Bloomberg reported.

READ ALSO: Snapchat soared in August amid TikTok uncertainty

The company likely needs beyond the U.S. executive order ban on September 20 to reach an agreement with either of the parties due to the Chinese regulatory review, the report said, citing people familiar with the matter.

ByteDance did not immediately respond to a Reuters request for comment.

The Trump administration is seeking to ban TikTok unless ByteDance sells the short-video app’s U.S. operations, citing potential national security risk due to the vast amount of private data the app is compiling on U.S. consumers.

ByteDance has said the Chinese government does not have any jurisdiction over TikTok content.

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