ByteDance denies selling TikTok to US joint venture

President Trump has said he will reveal potential buyers of TikTok within two weeks.

US newspaper reported that China is delaying the sale of TikTok, in order to maximize benefits in trade negotiations with the US - Photo: REUTERS

Chinese tech company ByteDance has denied reports that it has agreed to sell a controlling stake in its TikTok social network to a US consortium led by Oracle. ByteDance said this was not the first time the company has faced such rumors.

Rumors of a TikTok sale surfaced 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, Mr. Trump extended TikTok's operating license in the US until September 17, on the condition that TikTok must 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 Mr. Trump imposed high import tariffs.

Even on June 29, President Trump 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, in order to maximize benefits in trade negotiations with the US.

VNA

Source: https://tuoitre.vn/bytedance-bac-tin-ban-tiktok-cho-lien-doanh-my-20250708211318503.htm