Trump tells Fox News he has group of 'very wealthy people' to buy TikTok
WASHINGTON: US President Donald Trump said in a Fox News interview broadcast on Sunday (Jun 29) that he had found a buyer for the TikTok short-video app, which he described as a group of "very wealthy people" whose identities he will reveal in about two weeks.
Trump made the remarks in an interview on Fox News' Sunday Morning Futures with Maria Bartiromo program.
He said the deal he is developing would probably need China's approval to move forward and he predicted Chinese President Xi Jinping would likely approve it.
The US president earlier this month had extended to Sep 17 a deadline for China-based ByteDance to divest the US assets of TikTok despite a law that mandated a sale or shutdown without significant progress.
A deal had been in the works this spring that would have spun off TikTok's US operations into a new US-based firm, majority-owned and operated by US investors, but it was put on hold after China indicated it would not approve it following Trump's announcements of steep tariffs on Chinese goods.
"We have a buyer for TikTok, by the way," Trump said. "I think I'll need probably China's approval. I think President Xi will probably do it."
A 2024 US law required TikTok to stop operating by Jan 19 unless ByteDance had completed divesting the app's US assets or demonstrated significant progress toward a sale.
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