TikTok Transaction Tussle: China, US Edge Toward Accord
Chinese sources claim new progress has been made regarding the sale of TikTok. China and the United States have reportedly reached a “preliminary structural agreement” for transferring the app’s ownership to American investors. However, under the deal, TikTok’s highly successful algorithms and certain intellectual properties would remain under Chinese control, according to GSM Arena.
Analysts note that no final terms have yet been agreed upon, meaning the previously set September 17 deadline could be postponed once again. Congressional approval will also be required.
Sources familiar with the matter reveal that, as part of the potential agreement, a separate U.S. version of TikTok is being developed. This would allow content created by American users to reach a global audience while enabling international content to be accessible within the United States.
It remains unclear which companies will ultimately purchase TikTok. Rumors emerged earlier this year in March and April that major firms, including Amazon, had submitted bids to acquire the platform.
