TikTok Labels Reports of Elon Musk’s Potential Purchase to Avoid US Ban as ‘Pure Fiction’ | Money News
TikTok has labeled a report suggesting it might sell its troubled US operations to Elon Musk as “utterly fictional”.
The short video platform’s Chinese parent company, ByteDance, is bracing for the possibility of TikTok facing a permanent shutdown in the United States this Sunday.
This impending action coincides with the implementation of a US government ban based on national security concerns.
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According to Bloomberg News, officials in Beijing, where TikTok’s parent company is headquartered, are weighing the option of allowing a potential sale to the billionaire X owner, should the ban prove unchallengeable or uncontestable.
Chinese authorities reportedly prefer to retain ByteDance’s control over TikTok’s US operations.
They have consistently denied exerting influence over ByteDance and TikTok, supporting their position by dismissing any allegations of collusion that might threaten US interests.
TikTok has 170 million users in the US. File pic: AP
The US Supreme Court seems inclined to uphold the Biden administration’s ban, suggesting that national security concerns take precedence over the free speech rights of TikTok’s 170 million users in America.
The timeline for a final ruling remains unclear, though the ban is scheduled to be enacted on Sunday, just a day before Donald Trump’s inauguration.
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In advance of his second term in the White House, he has urged the court to extend the deadline to facilitate a “political resolution”.
This tactic would not preclude Musk, a political ally, from potentially acquiring TikTok should the deadlock remain.
A spokesperson for TikTok responded to the speculation about negotiations, stating: “We cannot be expected to comment on pure fiction.”
Other potential buyers reportedly include former Treasury Secretary Steven Mnuchin and billionaire entrepreneur Frank McCourt.
