It also comes 15 days before Donald Trump’s sept. Deadline for Tiktok to find a new home with an American company. Experts said it’s unlikely a deal could materialize quickly, but Trump said Thursday he would not extend the deadline.
Further complicating things are new trade rules in China, which may prevent a buyer from obtaining the Ticoc’s recommendation algorithm. Reuters reports that China is ready to use the policy “to delay any deal by ByteDance if it had to.”
The company is currently entertaining offers from Oracle and Microsoft and Walmart, who have teamed up on a bid. Current TikTok owners ByteDance are reportedly considering deals that would not incorporate the app’s algorithm.
“The Chinese government has never suggested to us that the company should discontinue TickTock in the US or any other market,” a Bydtance spokesperson said in a statement. Ticketok’s current top executive in the US, Vanessa Pappas, previously said the company believes it has “many avenues ahead” that will allow the app to remain in the US.