China mulls potential sale of TikTok US to Musk, Bloomberg News reports
Published On Jan 13, 2025, 9:12 PM
Chinese officials are reportedly considering selling TikTok's U.S. operations to Elon Musk if the app cannot avoid a potential ban in the U.S. due to national security concerns. The Chinese government, while preferring that TikTok remains under the control of its parent company, ByteDance, acknowledges that discussions around a sale may need to occur. The future ownership of TikTok is uncertain and contingent on negotiations with Musk and the broader political landscape surrounding tech security in relation to China.
Stock Forecasts
BIDU
Negative
The potential sale of TikTok's U.S. operations could create significant volatility in various tech stocks and platforms, particularly those that could either be seen as competitors to TikTok or potential beneficiaries if TikTok were to disappear from the U.S. market.
MSFT
Positive
A deal involving Elon Musk could leverage the popularity of X (formerly Twitter) and may increase its user engagement or advertising revenues, given TikTok's extensive reach. This can provide immediate benefits to X's business model.
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