The approaching deadline for the potential sale of TikTok in the US keeps potential investors "in limbo," while the US prepares to extend the deadline for the sale of the platform's American assets. This is reported by the BBC, according to UNN.
Details
As a potential investor interested in acquiring TikTok's American division stated, he found himself "in limbo" as the deadline for the app's sale approaches.
"The US has repeatedly postponed the date by which the platform's Chinese owner, Bytedance, must sell it or be blocked for American users. US President Donald Trump appears ready to extend the deadline for the fifth time on Tuesday," the publication notes.
Investor Frank McCourt said: "We're just waiting and watching what happens next, but if the time comes, we're ready to act... we've raised capital for the purchase - we'll see."
The popular short-video app was supposed to be banned or sold in the US in January under a law passed by Congress in 2024.
Lawmakers stated then that ByteDance's ties to the Chinese government threatened national security and expressed concerns that Beijing could force the company to hand over data on American users.
TikTok and its owners have always stated that these concerns are unfounded.
Trump and members of his administration previously indicated that a deal with TikTok had been struck and had the blessing of Chinese President Xi Jinping.
The US President also stated that the app would be acquired by "experienced" American investors, including two of his allies: Oracle chairman Larry Ellison and Michael Dell of Dell Technologies.
Members of the Trump administration stated that the deal would be officially concluded during a meeting between Trump and Xi in October, but it ended without an agreement.
Despite Trump's statements, neither TikTok's Chinese owner ByteDance nor Beijing have announced approval of the sale.
Recall
United States President Donald Trump signed an executive order approving the sale of TikTok's American assets to a consortium of American investors.