Negotiations are underway for the sale of TikTok's US business, with President Trump mentioning that four groups are interested. There is a looming April 5 deadline for TikTok to divest its US operations to avoid a potential ban, following legislation from the Biden administration. Potential bidders include Larry Ellison's Oracle, a consortium led by Frank McCourt, and San Francisco-based Perplexity AI, among others. The US arm is valued at around $50 billion, representing a significant market opportunity, and Trump has indicated flexibility on the deadline.
President Trump stated, "We're dealing with four different groups, and a lot of people want it," highlighting that multiple bidders are vying for TikTok's US operations.
As the U.S.'s largest and most lucrative market for TikTok, the stakes are high, with the valuation of its US arm estimated at $50 billion.
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