TikTok sale deal could be reached by Saturday — Trump

Washington is pressuring Chinese company ByteDance to sell TikTok over concerns it could hand over American data to Chinese authorities, Reuters reports . If a deal fails, the platform risks being banned in the United States.

According to the US president, many buyers are now ready to join the race to acquire the Chinese social network. According to Reuters, among the potential buyers, Blackstone is leading, which is discussing the possibility of joining existing non-Chinese shareholders of ByteDance, led by Susquehanna International Group and General Atlantic, to inject fresh capital to participate in the bidding for the American business of TikTok.

Trump, who initially supported a ban on TikTok, recently reversed his stance, saying that shutting down the platform could only help companies like Facebook. TikTok has an audience of about 170 million users in the United States.

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