ByteDance is likely to miss the deadline imposed by the Trump administration for the sale of TikTok’s US assets as new Chinese regulations have complicated deal talks with bidders Microsoft Corp and Oracle Corp, reported Bloomberg.
The company likely needs beyond the US executive order ban on Sept. 20 to reach an agreement with either of the parties due to the Chinese regulatory review, said Bloomberg sources familiar with the matter.
The Trump administration is seeking to ban TikTok unless ByteDance sells the short-video app’s US operations, citing potential national security risk due to the vast amount of private data the app is compiling on US consumers.
ByteDance has said the Chinese government does not have any jurisdiction over TikTok content.