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TikTok is said in talks with potential buyers as the U.S. reportedly presses for a ban of the video-sharing app.
TikTok is said to reviewing its options and looking at possible deals it considered during the Donald Trump administration, when the ex president threatened to ban the popular app, according to a NY Post report, which cited an unidentified source close to TikTok, though the source declined to elaborate any further.
One proposal during the Trump administration had Oracle (ORCL) partnering with Walmart (WMT) to takeover TikTok.
The NY Post story comes after multiple media reports on Thursday said that the Biden administration reportedly threatened a ban if TikTok’s (BDNCE) Chinese owners didn’t divest their stakes in the video-sharing app.
TikTok, owned by Beijing-based ByteDance, has been facing scrutiny from U.S. lawmakers, who argue that the app poses a potential national security threat by virtue of its Chinese ownership.
The latest report also comes after Bloomberg on Tuesday said TikTok management is considering splitting itself from parent company ByteDance (BDNCE) if it can’t reach an agreement with the U.S. A TikTok divestiture may include a sale or an initial public offer.
Last week, Senate Intelligence Committee Chairman Mark Warner introduced a bipartisan legislation aimed at policing the threat of technology from “adversarial” nations, a move pointed at a potential ban of TikTok.
TikTok in June said it would route all of its U.S. traffic through Oracle’s (ORCL) cloud technology infrastructure to better secure the information of its U.S.-based users.
Earlier Thursday TikTok CEO Shou Zi Chew told the WSJ that a sale wouldn’t address U.S. security concerns.
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