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ByteDance rubbishes TikTok sale reports

Dec 26, 2019 by The Passage Team
ByteDance rubbishes TikTok sale reports

Chinese social media firm ByteDance has no plans to sell part or all of its TikTok app, the short video platform's head said on Tuesday, denying a media report which said the company was currently weighing options to do so due to US concerns.

Bloomberg reported on Monday that the company was considering a TikTok stake sale.

"From time to time you may read stories in the media that are not true. Today there is an inaccurate report claiming that ByteDance has considered selling part or all of TikTok," Alex Zhu said in an internal company note seen by Reuters. "We went on the record saying it was not true, but they decided to publish it anyway. I want to assure you that we have had no discussions with potential buyers of TikTok, nor do we have any intention to."

Source: Economic Times

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