FILE PHOTO: China and U.S. flags are seen near a TikTok logo in this illustration picture taken July 16, 2020. REUTERS/Florence Lo
September 10, 2020
(Reuters) – ByteDance is likely to miss the deadline imposed by the Trump administration for the sale of TikTok’s U.S. assets as new Chinese regulations have complicated deal talks with bidders Microsoft Corp <MSFT.O> and Oracle Corp <ORCL.N>, Bloomberg reported on Thursday.
The company likely needs beyond the U.S. executive order ban on Sept. 20 to reach an agreement with either of the parties due to the Chinese regulatory review, the report said, citing people familiar with the matter.
ByteDance did not immediately respond to a Reuters request for comment.
The Trump administration is seeking to ban TikTok unless ByteDance sells the short-video app’s U.S. operations, citing potential national security risk due to the vast amount of private data the app is compiling on U.S. consumers.
ByteDance has said the Chinese government does not have any jurisdiction over TikTok content.
(Reporting by Munsif Vengattil in Bengaluru; Editing by Sriraj Kalluvila)