ByteDance denies the report that it is exploring selling its stake in TikTok
ByteDance has recently denied the report that it is currently exploring selling its stake in TikTok, according to a report from Bloomberg the preliminary conversations were held as scrutiny from US officials grows.
TikTok head Alex Zhu sent an internal note to staff addressing the report, which was obtained by Reuters. Zhu told employees that from time to time you may read stories in the media that are not true, and called Bloomberg’s report inaccurate.
Zhu further added that executives haven’t hosted any discussions with potential buyers of TikTok, nor do we have any intention to. A TikTok representative also told Bloomberg that these rumors are completely meritless.
Bloomberg’s report arrives as TikTok continues to recent attention from US officials, with some senators warning the app could be a security threat.
According to Bloomberg: advisors to ByteDance executives recommended everything from an aggressive legal defense and operational separation for TikTok to sale of a majority stake. The company could maintain it doesn’t present any security threat when asked by US officials.
ByteDance wants to maintain full control of TikTok, Bloomberg also reported, especially as the app continues to surge in popularity.