"We have a group of very big companies that want to buy it. And you know, the kids want it so badly, Trump told reporters on Tuesday. I had parents calling me up. They don't want it for themselves, they want it for their kids. They say, if I don't get it done, they are in big trouble with their kids. And I think it's great. I hate to see value like that thrown out the window, he said."
"Trump signed an executive order later on Tuesday extending until December 16 a deadline for TikTok's Chinese owner, ByteDance, to divest from the platform or face the promised ban. Trump did not provide specific details on the nature of the deal. The Wall Street Journal and The New York Times, citing people familiar with the matter, reported that the Chinese ownership stake in TikTok would be reduced to less than 20 percent under the proposed agreement."
A deal with China allows TikTok to continue operating in the United States while giving ByteDance a divestment deadline. President Trump said he will speak with President Xi Jinping to confirm agreement details and extended ByteDance's divestment deadline to December 16 by executive order. A group of large companies expressed interest in buying TikTok, and parents and young users were cited as motivators. Reports indicate the Chinese ownership stake would be reduced to less than 20 percent under the proposed agreement. China's People's Daily praised the deal and said China would lawfully process technology export approvals and intellectual property licensing. Questions remain about what China would receive in return for divesting.
Read at www.aljazeera.com
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