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ByteDance Says It Is Not Selling TikTok, Denies Being a Security Threat

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ByteDance says it’s not exploring selling its stake in TikTok. This is in spite of a report from Bloomberg stating that preliminary conversations were held as scrutiny from the US increases.


TikTok’s head, Alex Zhu had sent an internal memo to staff addressing the report. Reuters saw a copy and in part, a quote of the memo told employees:


“… from time to time you may read stories in the media that are not true”. 


Therefore, debunking Bloomberg’s earlier report.


ByteDance Denies Its Willing To sell TikTok
Tiktok owner Bytedances new smartphone, the Smartisan Jianguo Pro 3


Zhu added that executives have not hosted any “discussions with potential buyers of TikTok, nor do [they] have any intention to.” A TikTok representative also told Bloomberg that “these rumors are completely meritless.”


Bloomberg’s report comes as TikTok continues to attract attention from US authorities, with some senators warning that the app could be a security threat. The article also claims that ByteDance’s Advisors are recommending:


“everything from an aggressive legal defense and operational separation for TikTok to sale of a majority stake.”

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TikTok Trying Maintains It’s Not A Security Threat

The company maintains that it doesn’t pose any type of security threat when questioned by US officials. ByteDance wants to keep complete control of TikTok, Bloomberg also says. This is as the app also continues to enjoy a surge in popularity all around the world.


The Committee on Foreign Investment in the United States (CFIUS) is still reportedly looking into ByteDance’s $1 billion takeover of in 2017. This investigation could determine if ByteDance had to divest assets, which helped build the TikTok platform.


CFIUS has begun asking questions and may mandate measures that TikTok should take to “avoid divesting the assets it acquired,” according to Reuters. The investigation comes amidst the escalating tensions between the United States and China.


TikTok is currently valued at $78 billion and is trying to change people’s perceptions of Chinese-owned apps. This they are doing by trying to establish working relationships with American firms.


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