TheBiden Administrationappears to be playing hardball, insistingTikToks Chinese parent companyByteDancedivest the hugely popular video-sharing app in the U.S.
According to the WSJ, its threatening a ban if that doesnt happen.
In a statement obtained by Deadline, TikTok responded to the sale pressure.
Whatever processes it has in place clearly have not allayed fears.
Microsoft made an offer but was turned down.
The administration seemed to have approved a bid led by Oracle and Walmart, but that never happened.
The Committee on Foreign Investment in the United States is again leading the charge.
TikToks CEO is set to testify on Capitol Hill next week.
CFIUS apparently doesnt give any details of how the divestiture would look in practice.
Rivals like Snapchat and Facebook would be big beneficiaries of aTikTok ban.
