TikTok China parent firm says no plans to sell app

Key Facts

• TikTok's Chinese parent company ByteDance says it has no intention of selling the business after the US passed a law to force it to sell the hugely popular video app or be banned in America.
• The statement from ByteDance came after media reports that it was exploring options to sell TikTok without the algorithm that powers it.
• "Foreign media reports of ByteDance selling TikTok are not true," the company said.
• The new law gives ByteDance nine months to sell the business, and an additional three-month grace period, before a potential ban can be enforced.

Click To Read Full Article