TikTok is pressing forward with plans for a sale of its U.S. operations ahead of a mid-September deadline, according to a person familiar with the matter, even as signs emerge that the video-sharing app is facing pressure to shut down rather than make a deal.
The app, owned by China’s ByteDance Ltd., is still considering bids from two possible buyers — Oracle Corp. and Microsoft Corp., which has teamed up with Walmart Inc.
TikTok intends to bring a proposal to the White House for approval before a deadline imposed by U.S. President Donald Trump, said the person, who asked not to be identified discussing internal plans. It will then be up to the Trump administration to approve a deal.
Read more at The Economic Times