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TikTok management is considering splitting from parent company ByteDance (BDNCE) if no agreement is reached with the United States to address national security concerns.
TikTok divestment may include sales or initialization public offering, according to a Bloomberg’s report, which cites familiar people. Options will be last resort if the company cannot find a solution to allay national security fears. The Chinese government still needs to back such a plan.
TikTok, was reviewed by the Committee on Foreign Investment in the United States in June speak it will route all its US traffic through (ORCL) cloud technology infrastructure to better secure the information of users in the United States.
Last Tuesday, Senate Intelligence Committee Chairman Mark Warner introduced bipartisan legislation on Tuesday aimed at controlling the technological threat from “adversary” nations, a move that recently indicated a Potential ban of popular China-based social media app TikTok (BDNCE).
Late last month Reuters reported that the White House had announced a 30-day timeline for the US government to make sure it doesn’t have TikTok. on any federal device and system.
