TikTok could separate from ByteDance, the Chinese technology firm which controls the exceedingly popular social media platform, in an effort to ease American lawmakers’ concerns about national security risks and data privacy.
Executives are weighing the sale of TikTok to another company or an initial public offering as a last resort should American officials reject an existing national security proposal offered by the company called Project Texas, according to a Tuesday report from Bloomberg. Authorities with the Chinese Communist Party would have to permit the divestiture.
The report comes as the Committee on Foreign Investment in the United States, a board composed of nine cabinet-level officials who weigh the national security implications of international investments into American companies, conducts a review of TikTok. Representatives from the Justice
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