President Trump told reporters late Friday that he plans to ban the social media platform TikTok from the United States as soon as Saturday.
A ban would further pressure TikTok’s Chinese parent company ByteDance to sell the app’s U.S. operations amid national security concerns about users’ personal data. Microsoft is a leading contender to buy.
“As far as TikTok is concerned, we’re banning them from the United States,” Trump told reporters on Air Force One.“I have that authority…It’s going to be signed tomorrow.” He said he could use an executive order or emergency economic powers.
The administration is also prepared to order the company to divest its ownership in TikTok.
Investment bankers told FOX Business if the Microsoft deal falls through, ByteDance will certainly shop TikTok wider including to private equity firms. A person with direct knowledge told FOX Business there are two to three serious buyers that have expressed interest. – READ MORE
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