ByteDance denies selling TikTok to US joint venture

VHO - Chinese technology company ByteDance has just denied reports that it has agreed to sell a controlling stake in social network TikTok to a US consortium led by Oracle.

ByteDance said this was not the first time the company had faced such rumors.

ByteDance Group office in Beijing, China. Photo: Kyodo/VNA

Rumors of a TikTok sale began in January 2025, when US media reported that the Trump administration was negotiating a takeover of the app by Oracle and a group of US investors. The Chinese Foreign Ministry then called on the US to ensure an open, fair, just and non-discriminatory business environment for Chinese companies operating in the US.

In mid-June, Trump extended TikTok’s license to operate in the US until September 17, on the condition that TikTok convert its US operations into a new company majority-controlled by US investors. However, ByteDance has informed the White House that China will not approve the deal until the trade and tariff disputes between the US and China are resolved, especially after Trump imposed high import tariffs. On June 29, President Trump even announced that he would reveal potential buyers of TikTok within 2 weeks.

Most recently, on July 4, the New York Post reported that China is delaying the sale of TikTok to US investors to maximize benefits in trade negotiations with the US.

According to LAN PHUONG (VNA)/Tin Tuc and Dan Toc Newspaper

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