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Sale of TikTok to US companies postponed indefinitely

The company's defense in American courts was able to successfully challenge Donald Trump's ban on working in the country.

The sale of part of the social network TikTok to the Chinese company ByteDance to the American companies Oracle and Walmart has been suspended for the time being. It was reported by The Wall Street Journal on Wednesday, February 10.

Note that possible security threats from the Chinese tech giant caused the platform to stop selling. Nevertheless, ByteDance continues to negotiate with the US intelligence services about the data of the Americans and to prevent the Chinese government from accessing them.

In addition, the decision was influenced by the fact that the defense of ByteDance in the American courts was able to successfully challenge the ban of former US President Donald Trump from working in the country. Also, the administration of President Joe Biden wants to get data protection from TikTok not by prohibitive measures, but, for example, by creating an intermediary company to work with such data.

As reported, Beijing believes that the terms of the deal to sell the American segment of TikTok to Oracle and Walmart threaten China's national security.

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