ByteDance Firmly Refuses to Sell TikTok Despite US Pressure
In defiance of the US government’s attempts to force a sale of TikTok, ByteDance, the Chinese parent company of the popular video app, has declared that it has no intentions of selling the business.
ByteDance made this clear in a statement posted on its official account on Toutiao, a social media platform it owns. The company firmly stated, “ByteDance doesn’t have any plans to sell TikTok.”
Despite the US passing a law that would require the sale of TikTok or face a ban in America, TikTok did not immediately respond to requests for comment from the BBC.
Earlier this week, TikTok announced its plans to challenge the “unconstitutional” law in court.
The response from ByteDance came following reports by The Information suggesting the exploration of a potential sale of TikTok’s US operations without its algorithm.
Dismissing the rumors, ByteDance stated, “Foreign media reports of ByteDance selling TikTok are not true,” accompanied by a screen shot of the article labeled with Chinese characters meaning “false rumor.”
With the sell-or-ban measure signed into law by US President Joe Biden, concerns have been raised about Beijing’s control over private companies, particularly ByteDance and the data it holds.
Despite these concerns, TikTok has consistently denied allegations of Chinese government influence over ByteDance.
In a video posted on the platform, TikTok boss Shou Zi Chew expressed confidence in fighting for the platform’s rights in court, stating, “The facts, and the Constitution, are on our side… rest assured, we aren’t going anywhere.”
ByteDance’s Chinese founder owns 20% of shares, with the majority owned by institutional investors like Carlyle Group, General Atlantic, and Susquehanna International Group.
Amidst fears of a TikTok ban, the Chinese government has dismissed such concerns as paranoia and warned of repercussions for the US.
While TikTok is not currently facing an immediate ban, the new law provides ByteDance with nine months to sell the business, with a potential ban coming into effect after an additional three-month grace period.
With the sale deadline likely to fall in 2025, ByteDance stands firm in its decision not to sell TikTok despite US pressure. — BBC
