30 апреля 2024 09:56 / IT новости

"These are rumors." ByteDance said it will not sell TikTok

«These are rumors». ByteDance said it will not sell TikTok

April 26, 14:00 Share:

ByteDance does not confirm plans to sell the platform at the request of the United States (Photo: REUTERS/Dado Ruvic)

ByteDance, which owns a 20% stake in TikTok, has called false reports of plans to sell the platform after the US passed a law forcing the Chinese company to do so.

The Information published a story this week that ByteDance is allegedly exploring a potential sale of its TikTok operations in the US.. The company responded to this publication, saying that this information was not true.

“ByteDance has no plans to sell TikTok. Foreign media reports that ByteDance is selling TikTok are untrue,” the company said in a post on the Toutiao social media platform it owns.

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As noted by the BBC, according to TikTok, TikTok's Chinese founder ByteDance owns a 20% stake through a majority stake in the company. About 60% is owned by investors, including large US investment companies Carlyle Group, General Atlantic and Susquehanna International Group. The remaining 20% is owned by its employees worldwide. Three of ByteDance's five board members are American.

NV wrote that the new law signed by US President Joe Biden gives ByteDance nine months to sell the business, with a possible extension of this period to a year. After this, if the platform does not change its owner, it may be banned in the United States of America. TikTok has repeatedly denied claims by US authorities that the Chinese government controls ByteDance and this poses risks to user data.. The company announced that it would challenge the US law.