Kevin O'Leary, a veteran investor on 'Shark Tank', is actively pursuing a deal for TikTok as deadlines loom. He recently stated that the second 75-day extension will not likely be followed by a third. The impending mid-June deadline coincides with heightened scrutiny from the U.S. government. O'Leary, alongside Frank McCourt and Alexis Ohanian, is part of 'The People's Bid' for TikTok. However, he highlighted the significant challenges, including potential penalties for bans and the necessity of algorithm changes, with much hanging on President Xi Jinping's decision about the sale.
Kevin O'Leary expresses urgency regarding a TikTok deal, emphasizing that the deadline is approaching and reiterating his commitment to pursue the purchase with his team.
The uncertainty surrounding TikTok's future raises concerns among potential buyers about the hefty penalties if a ban occurs, deterring large corporations from making offers.
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