TikTok mulls splitting from ByteDance if proposal with US fails

TikTok mulls splitting from ByteDance if proposal with US fails

FILE PHOTO: TikTok app logo is seen in this illustration taken, August 22, 2022. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo

China’s TikTok is considering separating from parent ByteDance to help address U.S. concerns about national security risks, Bloomberg News reported on Tuesday, citing people familiar with the matter.

A divestiture, which could result in a sale or initial public offering, is considered a last resort and will be pursued only if the company’s existing proposal with U.S. national security officials does not get approved, Bloomberg reported.

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