China Considers Selling TikTok US Operations Musk: Bloomberg
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The Chinese government is considering a plan to allow Elon Musk to acquire TikTok’s US operations to avoid effectively banning the app, according to Bloomberg News. reported on Monday.
It is one of several options China is exploring when the US Supreme Court rules that China-based ByteDance has until January 19 to comply with a law requiring it to withdraw from US business, the report said, citing unnamed sources.
After that deadline, third-party internet service providers will be penalized in the country for supporting TikTok’s activities.
Under the plan, Musk would take control of both X, which he currently owns, and TikTok’s U.S. business, according to Bloomberg. However, Chinese government officials have not yet decided whether the plan will continue or not, the report said, adding that the plan is still a priority.
ByteDance is unclear about the Chinese government’s plans and the involvement of TikTok and Musk in the talks, the report said. Top Chinese officials are debating contingency plans for TikTok’s future in the U.S. as part of broader discussions with the president about working with the president. Donald TrumpThe report added.
“We can’t wait to comment on pure fiction,” a TikTok spokesperson told CNBC in an email. X did not immediately respond to a request for comment.
Last week, the Supreme Court held oral arguments on the bill banning TikTok that President Joe Biden signed in April. TikTok’s legal team has argued that the law violates the free speech rights of millions of users, while the US government says ByteDance’s ownership of TikTok threatens national security.
With the Supreme Court appearing to side with the government, TikTok may turn to Trump when his second term begins on January 20. Trump, who supported the Tik Tok ban during his first administration, has pivoted on the issue. At the end of last month he made a call The Supreme Court intervened to force a delay on Biden’s suspension and give him time to find a “political solution.”
Trump’s speech on Tik Tok began to circulate after him He met in February Along with billionaire Jeff Yass, a Republican megadonor and big investor in ByteDance, owner of Truth Social, Trump’s social media company.
See: SCOTUS hears Tik Tok ban.
