Source: Global Times

[Global Times reporter, Ren Xiaonan] According to the New York Times, on July 7, after extending the implementation grace period for the "Sell or Die" bill for TikTok three times, US President Trump said on Friday that the US has "basically reached" an agreement for a US company to acquire TikTok's US subsidiary. He will start negotiations with China on the potential acquisition of TikTok on July 7 or 8. Trump also said that this deal may still require approval from the Chinese side.

Trump did not reveal the identity of the potential buyer. However, earlier, when he was interviewed by Fox News, he mentioned that a group of "very wealthy people" were seeking to acquire the popular short video platform. Bloomberg cited sources saying that the potential buyer is a consortium consisting of Oracle, Blackstone Group, and venture capital firm Andreessen Horowitz. However, none of the relevant parties have responded to media requests for comment.

The report said that according to the potential agreement, new external investors would own 50% of the shares in the joint venture, while existing investors would hold about 30%; ByteDance's stake in TikTok's parent company would be reduced to slightly below 20% to comply with the "Sell or Die" bill regulations. The New York Times also said it is unclear whether this transaction meets some requirements of Congress regarding the sale of TikTok, especially if ByteDance does not share its algorithm with the American buyer.

In 2024, then-US President Biden signed the "Sell or Die" bill targeting TikTok, citing "national security," requiring ByteDance to sell or spin off TikTok by January 19. TikTok briefly went offline before the deadline. After Trump returned to the White House on January 20, he signed an executive order extending the grace period until April 5, and TikTok quickly resumed operations. Subsequently, Trump extended the grace period until June 19, and last month until September 17.

Regarding the issue involving TikTok, China has repeatedly clarified its principle position. When TikTok faced a suspension of operations in January this year, a spokesperson for the Chinese Foreign Ministry stated: "For corporate operations and acquisitions, we have always believed that they should be decided by enterprises based on market principles. If it involves Chinese enterprises, they should comply with Chinese laws and regulations."

American technology news media The Information reported on June 6 that TikTok is developing a new application for US users and plans to launch it on the US app store on September 5. According to the current schedule, the old version of the app will stop service in March 2026. US users of TikTok must download the new application to continue using its services. Financial media "Investing.com" reported that TikTok's split strategy involves over 170 million US users, and such a large-scale user migration is uncommon. TikTok has not yet responded to media requests for comment.

Original article: https://www.toutiao.com/article/7524474758403064354/

Statement: This article represents the personal views of the author. Please express your opinion by clicking on the [Upvote/Downvote] button below.