President Donald Trump said on Sunday that a deal to sell TikTok’s U.S. operations will be finalized before the looming April 5 deadline, according to a Reuters report. The U.S. has been pressuring ByteDance, TikTok’s Chinese parent, to divest the app over national security concerns. With over 170 million American users, TikTok remains a major player in social media. If the TikTok sale doesn’t happen by April 5, the app could face a nationwide ban under a 2024 law.
Big Investors Show Interest
As the deadline approaches, major financial players are eyeing a stake in TikTok’s U.S. business. Reuters reported that the private equity giant Blackstone is considering a small stake in TikTok’s U.S. business, joining non-Chinese shareholders like Susquehanna International Group and General Atlantic. This group has emerged as a leading contender in the bidding process.
Trump confirmed that multiple buyers are in the mix, saying, “We have a lot of potential buyers.” He added, “There’s tremendous interest in Tiktok,” and emphasized, “I’d like to see Tiktok remain alive.”
China’s Role in the Deal
Trump acknowledged that China’s approval is key to any sale. Last week, he even said that the U.S. could reduce tariffs on Chinese goods to help push the deal forward. However, negotiations remain complex.
Meanwhile, U.S. Vice President JD Vance expects a deal to be in place by April 5, though finalizing legal contracts may take longer. The White House has taken an unusually active role in the negotiations, acting almost like an investment bank.
With just days to go, all eyes are on whether the sale will move forward, or if the popular app will face a U.S. ban.
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