Tiktok sale order to delay the byte jump again, another 7 days to complete

category:Finance
 Tiktok sale order to delay the byte jump again, another 7 days to complete


After the ban was extended again, tiktok said the latest deadline was December 4. Indeed, under pressure from the U.S. government, byte hop has been negotiating for months to finalize a deal with Wal Mart and Oracle to transfer TikTok US assets into a new entity.

A person familiar with the matter said byte hopping had submitted a new proposal to address the US governments security concerns. The company disclosed on November 10 that it had submitted four proposals, including one in November, which sought to address us concerns by creating a new entity, wholly owned by Oracle, Wal Mart and byte hop American investors, and responsible for processing tiktoks U.S. user data and content auditing..

The proposal submitted by tiktok in November was actually a US agent operation scheme, but it was not accepted by the US side. After tiktok sued the U.S. government again on November 10, the two sides returned to the negotiation of the agent operation scheme.

Tiktok sale order extended for another 7 days