ByteDance denies selling TikTok to US joint venture

ByteDance has told the White House that China will not approve the deal until the trade and tariff disputes between the US and China are resolved.

Chinese technology company ByteDance has 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.

Rumors of TikTok being sold emerged in January 2025, when US media reported that the Trump administration was negotiating with Oracle and a group of US investors to take over the app.

China's Foreign Ministry then called on the US to ensure an open, fair, just and non-discriminatory business environment for Chinese enterprises 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 told 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 two 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./.

(TTXVN/Vietnam+)

Source: https://www.vietnamplus.vn/cong-ty-bytedance-bac-bo-thong-tin-ban-tiktok-cho-lien-doanh-my-post1048592.vnp