US President Donald Trump said his administration is nearing a deal to secure a buyer for TikTok, which faces a US ban unless its Chinese owner, ByteDance, divests by the weekend, reports AFP/ BSS.
“We're very close to a deal with a very good group of people,” Trump told reporters aboard Air Force One. He confirmed the involvement of multiple investors but provided no further details.
The video-sharing platform, with over 170 million American users, is under threat from a US law passed last year that mandates TikTok's separation from ByteDance over national security concerns. Washington fears the app is ultimately controlled by Beijing. The law took effect on January 19, one day before Trump’s inauguration, but his administration granted a temporary reprieve, set to expire on April 5.
Trump has downplayed the likelihood of an outright ban, expressing confidence in securing a buyer. He also suggested TikTok could be part of broader trade negotiations with China, hinting that Beijing might approve a deal in exchange for tariff relief. “The tariffs give us great power to negotiate,” he said.
Reports indicate that a likely resolution would see existing US investors in ByteDance roll over their stakes into a newly independent global TikTok entity. Additional US investors, including Oracle and private equity firm Blackstone, would join to dilute Chinese ownership.
Oracle already hosts much of TikTok’s US operations, and its chairman, Larry Ellison, is a longtime Trump ally. However, uncertainty remains over the fate of TikTok’s valuable algorithm. The New York Times suggested ByteDance might license it to the new entity.
Meanwhile, Amazon has reportedly made a last-minute bid for TikTok, adding another twist to the high-stakes negotiations.
Bd-pratidin English/ Jisan
