ByteDance sale of TikTok US unit pushed back - Mobile World Live

ByteDance sale of TikTok US unit pushed back

26 NOV 2020

The US reportedly again pushed back a deadline set for ByteDance to agree a sale of its TikTok operation, with the Committee on Foreign Investment in the US (CFIUS) weighing in.

BBC News reported CFIUS extended the deadline from 27 November to 4 December to allow more time for its review of a sale deal involving Oracle and Walmart.

CFIUS approval for the deal is required.

On 14 August, President Donald Trump ordered ByteDance to divest its US operation within 90 days or face a ban.

The Chinese company reached an agreement with the US companies in September, but the President was reportedly unwilling to clear the sale until national security concerns were addressed.

Earlier this month, a court granted ByteDance a two-week extension to the original 12 November deadline after the company stated it had received little in the way of feedback on its planned sale.



Yanitsa Boyadzhieva

Yanitsa joins Mobile World Live as a Reporter based in London. She has more than 5 years’ experience at various media outlets in her home country Bulgaria. She started her career as a political reporter, followed by taking editor roles...

Read more