ByteDance is speaking with the U.S. government about possible solutions that may allow it to retain some ownership of the U.S. operations of TikTok, while satisfying regulators in both China and the U.S. Those possibilities include handing over operational control of TikTok data to a U.S. tech company, while potentially still holding on to some ownership of assets, a person familiar with the process told CNBC.
The Wall Street Journal previously reported Wednesday that ByteDance was working with the U.S. government on ways to avoid a full sale. The discussions have been taking place for months, the Journal reported, and the situation remains remains fluid. It’s still unclear if the Trump administration will be willing to go along with such a solution.
