US business news
TikTok Will Not Be Sold Despite Looming U.S Ban
TikTok owner ByteDance says it will not sell the video app despite the U.S. pushing forward with legislation to ban it.
In a post on Toutiao, its social media platform, the company simply said: "ByteDance doesn't have any plans to sell TikTok."
The BBC reports TikTok is planning to legally challenge the law, calling it "unconstitutional."
Reports had suggested TikTok could consider selling its U.S Operations without its core algorithm.
However, ByteDance refuted these claims, saying: "Foreign media reports of ByteDance selling TikTok are not true," emphasizing the inaccuracy with an image marked "false rumour."
President Joe Biden signed the legislation that could lead to a ban earlier this week.
This action reflects ongoing concerns in the U.S. and other Western nations about the influence of the Chinese Communist Party over ByteDance and the data it manages.
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