President Donald Trump’s administration has said ByteDance
must sell the US operations of its popular video-sharing app because of alleged national security risks. Microsoft and Oracle have submitted rival bids to ByteDance to acquire TikTok’s US business, while Centricus Asset Management and Triller were said to have made a last-minute pitch on Friday to buy TikTok’s operations in several countries for $20 billion.
ByteDance should study the new export list and “seriously and cautiously” consider whether it should halt negotiations, Cui Fan, a trade expert and professor at Beijing’s University of International
Business and Economics, told the official Xinhua News Agency. Additional approval in Beijing is likely to delay and possibly undermine any transaction. Because the Chinese government
review will take time, the TikTok
deal may be delayed until after the US elections in November, the person familiar said.