US grants China's ByteDance new seven-day extension of TikTok sale order

ByteDance has been in talks for months to finalise a deal with Walmart and Oracle to shift TikTok's US assets into a new entity.
ByteDance has been in talks for months to finalise a deal with Walmart and Oracle to shift TikTok's US assets into a new entity.PHOTO: REUTERS

WASHINGTON (REUTERS) - The Trump administration on Wednesday granted ByteDance a new seven-day extension of a divestiture order that had directed the Chinese company to sell its TikTok short video-sharing app, according to a court filing.

The Trump administration previously had granted ByteDance a 15-day extension of the order issued in August, which was set to expire Friday.

The new deadline is Dec 4, TikTok said.

Under pressure from the US government, ByteDance has been in talks for months to finalise a deal with Walmart and Oracle to shift TikTok’s US assets into a new entity.

The US Treasury did not immediately comment Wednesday.

ByteDance has made a new proposal aimed at addressing the US government’s concerns, said a person briefed on the matter who declined to detail that proposal.

It made the proposal after disclosing on Nov 10 that it had submitted four prior proposals including one in November that sought to address US concerns by “creating a new entity, wholly owned by Oracle, Walmart and existing US investors in ByteDance, that would be responsible for handling TikTok’s US user data and content moderation.”