Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

TikTok’s owner ‘understands’ but ‘disagrees’ with US ruling to divest the app

TikTok’s owner ‘understands’ but ‘disagrees’ with US ruling to divest the app

The CEO of TikTok’s parent company ByteDance tells employees that the firm ‘disagrees’ with the conclusion reached by CFIUS that the company must fully divest its US operations.
As TikTok faces a potential forced sale in the US, the founder of its Chinese parent company ByteDance said on Monday that it “disagrees” with the conclusion of the US government panel that reviews the national security implications of foreign investments, when it said ByteDance must fully divest TikTok's US operations.

“We have always been committed to user safety, platform neutrality, and transparency. However, we understand their decision in the current macro environment,” ByteDance founder Zhang Yiming said in a bilingual internal memo to employees on Monday afternoon, according to one employee who saw it. A ByteDance spokeswoman confirmed the contents of the letter to the South China Morning Post.

Zhang's memo came after US President Donald Trump said on Friday he would sign an executive order as soon as Saturday to ban TikTok in the United States, after dismissing the idea of a sale to Microsoft. The inter-agency Committee on Foreign Investments in the United States (CFIUS) launched a review of TikTok last year.

However, Trump has since agreed to give Beijing-based ByteDance 45 days to negotiate a sale of the app to Microsoft, according to a Reuters report on Monday citing three people familiar with the matter.

Microsoft said in a statement on Sunday that following a conversation between its chief executive Satya Nadella and Trump, the US software giant is prepared to continue discussions to explore its purchase of TikTok and will complete these discussions no later than September 15.

Zhang said in the memo that “to help resolve these issues, we initiated preliminary discussions with a tech company to help clear the way for us to continue offering the TikTok app in the US,” without clarifying.

“We do not yet know the exact details of what our end solution will be. Candidly, it is unlikely that the level of interest and speculation around TikTok will cease in the short term, and I recognise that this can be very distracting,” Zhang said.

He said that he is “confident in the long-term success of TikTok, and believe [it] can become an even more trusted product.”

Zhang said ByteDance has “fully cooperated” with the CFIUS review of its 2017 acquisition of the US-based Musical.ly app, which was later renamed TikTok.

On Monday, China's foreign ministry spokesman Wang Wenbin said that Beijing “firmly opposes” the US “presumption of guilt on certain companies”, without naming TikTok.

“We urge the US to provide an open, fair, just and non-discriminatory business environment, to stop politicising economic and trade issues, to stop abusing the concept of national security, and to stop promoting discriminatory and exclusive policies,” said Wang
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
French Police Probe Suspected Weather-Data Tampering After Unusual Polymarket Bets on Paris Temperatures
CATL Unveils Revolutionary EV Battery Tech: 1000 km Range and 7-Minute Charging Ahead of Beijing Auto Show
Changi Airport: How Singapore Engineered the World’s Most Efficient Travel Experience
Power Dynamics: Apple’s Leadership Shakeup, Geopolitical Risks in the Strait of Hormuz, and Europe's Energy Strategy Amidst Global Challenges
Apple's Leadership Transition: Can New CEO John Ternus Navigate AI Challenges and Geopolitical Pressures?
Italy’s €100K Tax Gambit: Europe’s Soft Power Tax Haven
Budapest latest News Roundup
Travel on all public transport in the Australian state of Victoria will be free in May and then half price for the remainder of this year as the government ramps up help for consumers battling high fuel costs
News Roundup
Microsoft lost 2.5 millions users (French government) to Linux
Privacy Problems in Microsoft Windows OS
News roundup
Hungary's elections
Péter András Magyar and the Strategic Reset of Hungary
Hungary After the Landslide — A Strategic Reset in Europe
The CIA’s Secret Technology That Can Find You by Your Heartbeat Successfully Locates Downed Airman
Operation Europe: Trump Deploys Vance to Hungary to Save the EU
Asian Energy Security Tested as Strait of Hormuz Disruption Threatens Oil Supplies
Iran Sets Three Conditions for Ending Regional War as Diplomatic Efforts Intensify
Iran warns of $200 oil as forces target merchant ships in Gulf
Japan to Release 45 Days of Oil Reserves Amid Iran Conflict
Global Energy Agency Announces Record Release of 400 Million Barrels to Stabilize Oil Markets Amid Hormuz Disruption
U.S. and Israel Intensify Strikes on Iran as Conflict Expands to Lebanon and Gulf States
When the State Replaces the Parent: How Gender Policy Is Redefining Custody and Coercion
Larry Summers, the former U.S. Treasury Secretary, is resigning from Harvard University as fallout continues over his ties to Jeffrey Epstein.
U.S. stocks ended higher on Wednesday, with the Dow gaining about six-tenths of a percent, the S&P 500 adding eight-tenths of a percent, and the tech-heavy Nasdaq climbing roughly one-and-a-quarter percent.
Nvidia posted better than expected results for the January quarter on Wednesday and forecast current quarter revenue above market estimates.
Ukrainian government intensifies pressure on Hungary and Slovakia with oil blockade
Britain’s Channel Crisis: Paying Billions While the Boats Keep Coming
Woman Receives Gift Card for Christmas – Discovers It Is ‘Worth’ 63,000,000,000,000,000 Pounds
United Nations Calls for Global Action Against Disinformation and Hate Speech Online
Tucker Carlson warns of an inevitable clash in Western societies over mass migration
OpenAI CEO Sam Altman praises the rapid progress of Chinese tech companies.
Poland's President Karol Nawrocki ENDS support for Ukrainian citizens:
Italy's PM Giorgia Meloni highlights record employment and economic growth
Chancellor Friedrich Merz Re-elected as CDU Leader, Opposes AfD Influence
Trump Directs Government to Release UFO and Alien Information
Trump Signs Global 10% Tariffs on Imports
UK Government Considers Law to Remove Prince Andrew from Royal Line of Succession
Two teens arrested in France for alleged terror plot.
US Supreme Court Voids Trump’s Emergency Tariff Plan, Reshaping Trade Power and Fiscal Risk
Greek Prime Minister Kyriakos Mitsotakis advocates for a ban on minors using social media.
Meanwhile in Time Square, NYC One of the most famous landmarks
Jensen Huang just told the story of how Elon Musk became NVIDIA’s very first customer for their powerful AI supercomputer
Former British Prince Andrew Arrested on Suspicion of Misconduct in Public Office
Former President Yoon Suk Yeol Sentenced to Life in Prison for Abuse of Authority
Unitree Robotics founder Wang Xingxing showcases future robot deployment during Spring Festival Gala.
German Chancellor Friedrich Merz calls for real name use on social media.
Italian Police Arrest Man After Alleged Attempt to Abduct Toddler at Bergamo Supermarket, Child Hospitalised With Fractured Femur
British Tourist Arrested at Hong Kong Airport After Meltdown and Vandalism
×