ByteDance denies selling TikTok to US joint venture

VHO - Chinese technology company ByteDance has just denied reports that it has agreed to sell a controlling stake in social network TikTok to a US consortium led by Oracle.

ByteDance stated that this is not the first time the company has faced such rumors.

ByteDance Group's office in Beijing, China. Photo: Kyodo/VNA

Rumors about TikTok being sold first surfaced in January 2025, when US media reported that the Trump administration was negotiating for Oracle and a group of American investors to take over the app. The Chinese Foreign Ministry then called on the US to ensure an open, fair, equitable, and non-discriminatory business environment for Chinese companies operating in the US.

In mid-June, President Trump extended TikTok's operating license in the US until September 17, on the condition that TikTok transform its US operations into a new company controlled by majority US investors. However, ByteDance informed the White House that China would not approve the deal until trade disputes and tariffs between the US and China were resolved, especially after Trump imposed high import tariffs. Furthermore, on June 29, President Trump announced he would reveal potential buyers of TikTok within two weeks.

Most recently, on July 4th, the New York Post reported that China is delaying the sale of TikTok to American investors in order to maximize its benefits in trade negotiations with the US.

By LAN PHUONG (VNA)/News and Ethnic Groups Newspaper

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