Is China mulling potential sale of TikTok US to Musk? – Instances of India

Chinese language officers are in preliminary talks a few potential choice to promote TikTok’s operations within the US to billionaire Elon Musk, ought to the short-video app be unable to keep away from an impending ban, Bloomberg Information reported on Monday. The report estimates the worth of TikTok’s US operations at between $40 billion and $50 billion.
Beijing officers desire that TikTok stays beneath the management of mother or father Bytedance, the report mentioned, citing sources.
TikTok’s US operations may both be bought via a aggressive course of or an ar rangement by the government, the report mentioned, suggesting that the way forward for the app is not solely in ByteDance’s management.
China’s govt has a “golden share” in ByteDance, which a number of members of US Congress have mentioned provides the government energy over Tiktok.
Below one state of affairs, Musk’s social media platform X would take management of TikTok US and run the enterprise collectively, the report mentioned. Officers have but to succeed in a consensus about methods to proceed, in line with Bloomberg Information. TikTok has beforehand mentioned that the government’s stake “has no bearing on ByteDance’s world operations exterior of China, together with TikTok.”
Musk, X, and China’s our on-line world and ministry of commerce are but to remark.
Final week, the US Supreme Courtroom appeared inclined to uphold a regulation that might power a sale or ban TikTok within the US by Jan. 19, over nationwide safety issues about China.
This can be a Reuters’ story