What they're saying: TikTok has previously argued that divestiture wouldn't address the government's national security concerns. operations' backend functions and code from its Chinese arm. TikTok has since worked with Oracle on Project Texas, a plan to separate its U.S.That deal, which would have allowed ByteDance to retain majority control, never made it through, however, following multiple legal challenges and Trump's loss in the 2020 election.Before the app reached a deal with Oracle and Walmart, Microsoft made an offer that was rejected. The app was almost sold back in 2020 after former President Donald Trump threatened a similar ban.The big picture: If ByteDance were to ever relent and consider a sale of the app, the company should have no shortage of suitors. The other side: China would "resolutely oppose" a forced sale by the U.S., a spokesperson for Beijing's Ministry of Commerce said today. "The administration can achieve its national security goals without necessarily banning the app, including by ByteDance selling TikTok," a U.S.The Biden administration strongly prefers the former over the political minefield that the latter would cause.version of the popular social media app or face a countrywide ban. Why it matters: TikTok's parent company, the Beijing-based ByteDance, has two options: Either sell the U.S. is more cloudy than ever as CEO Shou Zi Chew faces Congress on Thursday in Washington, D.C.
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