Trump says he's not yet ready to sign off on a TikTok deal as his administration reportedly pushes for majority US ownership

Posted On: Sep 17, 2020   |   Posted By: Business Insider

Trump says he's not yet ready to sign off on a TikTok deal as his administration reportedly pushes for majority US ownership

Summary List Placement
Trump administration officials are pushing for potential US buyers to own a majority share of TikTok as part of a sale the president has pushed for, The Wall Street Journal reported Wednesday.
The Journal reported Tuesday that ByteDance, TikTok's Chinese-based parent company, had sought to keep its controlling share of the social media app in a deal it pitched to US officials this week.
But that proposal didn't satisfy the administration, according to Wednesday's report, which said that US Treasury Secretary Steve Mnuchin and other officials are angling for American investors to own well north of 50% of the new company, throwing new roadblocks into the discussions.
Trump also indicated Wednesday that he wouldn't support the deal as it has currently been reported.
"Just conceptually, I can tell you I don't like that... if that's the case, I'm not going to be happy with it," Trump told reporters during a press conference Wednesday, though he said he hadn't yet been briefed on the...

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