Following speculation that Chinese officials are considering potential sale of US TikTok to billionaire Elon Musk, the firm rubbished the reports that it is “pure fiction”.
The speculation became rife following Bloonberg’s report that Chinese officials are weighing options to sell TikTok business to the world’s richest person, if the US Supreme Court upholds a ban on the app.
The US Supreme Court is due to deliver a rule on a law that set January 19 deadline for TikTok to either sell its US operations for face a ban in the country.
According to a report in Bloomberg News, TikTok was considering the option as the video-sharing platform faces an American law requiring imminent Chinese divestment.
The report, alluding to anonymous people privy to the matter, outlined one scenario being discussed where Musk’s X would purchase TikTok from Chinese owner ByteDance and merge it into the platform.
The report estimated the value of TikTok’s US operations at anything between $40 and $50 billion.
The US government has taken serious view of TikTok, alleging that the app was allowing Beijing to collet data and spy on users and is a conduit to spread propaganda.
However, China and ByteDance strongly denied the claims.
TikTok did not immediately respond to the reports on foreign media but a representative was cited to be saying: “We can’t be expected to comment on pure fiction.”
It is worth noting that Musk is a close ally to US President-elect Donald Trump, and is likely to play an influential role in the coming four years.
Last month, Trump urged the Supreme Court to delay its decision on TikTok until he takes office to enable him to seek a “political resolution”.
Trump’s lawyer filed a legal brief with the court saying his client opposes banning TikTok and “seeks the ability to resolve the issues at hand through political discussion once he assumes office”.
According to reports, this petition was filed after TikTok’s chief executive Shou Zi Chew met Trump at his Mar-a-Lago estate in Florida.
It has to be seen how the entire issue would unfold in the next few days before the January 19 deadline.
This post was last modified on 14 January 2025 12:40 pm
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