![]() It was also not immediately clear what assets TikTok Global would own beyond the app’s assets in the US. There is no certainty about whether Trump will sign off on the agreement. The filing of the IPO would be on a US stock exchange and could come in about a year, the sources said. It would also further reduce ByteDance’s stake in the company, helping appease US officials. Giant IPOĪn IPO of TikTok would be one of the technology sector’s biggest-ever stock market debuts, given that the app was recently valued by ByteDance investors at more than $50bn. “We’ll make a decision soon,” Trump said. He added, without giving details, “I guess Microsoft is still involved.” Microsoft said on Sunday its offer for TikTok had been rejected and did not immediately respond to a request for comment on Thursday. Trump said that his administration held talks with Walmart and Oracle on Thursday but “nothing much has changed” regarding a deal. Should TikTok be banned? | Start Here (10:53) If Walmart also successfully negotiates acquiring a stake, its CEO, Doug McMillon, would get a seat on TikTok Global’s board, the source said. Oracle has agreed to eventually own a 20 percent stake in the company, according to the source. The new company, dubbed TikTok Global, would have a majority of American directors, a US chief executive and a security expert on the board, the source added. ![]() The White House and ByteDance have agreed to a term sheet on some aspects of a deal, although Trump has not yet approved it, one of the sources said. On Wednesday, he reiterated he was opposed to ByteDance retaining majority ownership of TikTok. Trump ordered ByteDance last month to divest TikTok amid US concerns that the personal data of as many as 100 million Americans who use the app could be passed on to China’s Communist Party government. China’s ByteDance is planning an initial public offering of TikTok Global, its proposed new company for the popular short-video app, should the government in the United States give its approval to the plan, people familiar with the matter told Reuters News Agency on Thursday.īyteDance is racing to clinch an agreement that will head off a US ban on TikTok that President Donald Trump has threatened could happen as early as next week.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |