The Chinese government, which holds a significant number of shares in parent company ByteDance, would prefer that TikTok remain in its hands.
The most likely alternative, should such a deal not go through, would be for ByteDance to simply shutter operations in the U.S. entirely.
ByteDance has argued that the law requiring it to divest or face a ban violates the First Amendment.
A ruling is expected as soon as Wednesday.
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