Two informed sources told Reuters on Saturday that the Chinese
company Bite Dance, the owner of the Tik Tok application,
offers to give up managing its operations in America, in an
attempt to save a deal with the White House.
The development came after US President Donald Trump
announced Friday his intention to ban this application.
US officials said that “Tik Tok”, which is under a Chinese
umbrella, poses a threat to the United States because of the
personal data it deals with.
A Beat Dance waiver would be a test, which reveals whether
Trump’s threat to ban implementation is a negotiating tactic
or whether he determined to crack down on him.
Tik Tok has up to 80 million daily active users in the United States alone.
Trump told reporters on Air Force One on Friday that he would
issue an order banning video sharing in the United States on Saturday.
” not the deal you heard and that they will buy and sell. We
are not a country of mergers and acquisitions,” Trump added.
Byte Dance was previously seeking to retain a minority stake in
the American Tik Tok business, which rejected by the White House.
According to the new proposed agreement, the source said, Byte
Dance will fully exit and Microsoft will take over the
application in the United States.
They added that some of the Beat Dance investors residing in
the United States may given the opportunity to acquire
minority stakes in the company.
About 70 percent of overseas investors in Byte Dance come
from the United States.
