Chinese officials would rather see the app shut down entirely in the U.S. rather than be divested in a sale made under duress. Source: Motley Fool
President Trump placed in mandate against bike dance who owns TikTok to sell itsassets or he would force the shutdown of the app on Sunday September 20th, 2020 . He does not want ByteDance, TikTok’s owner conducting busines with American cities and companies in the United States.
Many suitors such as Walmart (NYSE:WMT), Microsoft (NASDAQ:MSFT) and Oracle (NYSE:ORCL) have made bids to buy the company. But so far these deals have stalled. There’s a lot of stake when it comes to the data that TikTok gathers. President Trump says there will be not be an extension of the TikTok deadline of September 20th, 2020.