ISLAMABAD: Chinese technology company ByteDance, the parent company of TikTok, has announced that it has no intentions to sell the popular video-sharing app despite recent US legislation mandating its sale or facing a ban in America.
ByteDance made the statement on its official account on the social media platform Toutiao.
“ByteDance doesn’t have any plans to sell TikTok,” the company stated.
This response comes after a report by The Information suggested that ByteDance was considering selling TikTok’s US operations without its algorithm.
TikTok has previously stated that it would legally challenge the “unconstitutional” law.
The law, signed by President Joe Biden, aims to address concerns over Beijing’s control of private companies and data.
The Chinese government has dismissed these concerns and warned that a TikTok ban would have consequences for the US.
“We are confident and we will keep fighting for your rights in the courts,” TikTok CEO Shou Zi Chew said in a video posted on the platform this week.
However, TikTok is not facing an immediate ban, as ByteDance has been given nine months to sell the business, with an additional three-month grace period before a potential ban could be enforced.
The deadline for the sale is likely to be in 2025, after the 2024 presidential election.
