TikTok confirms it will challenge Trump's executive order Photograph:( AFP )
Companies such as Microsoft and Oracle Corp are the potential new buyers
After news broke out that ByteDance may miss the deadline set for the TikTok deal, the US President Donald Trump has said there will be no extensions for the China-owned company.
According to a report published in Bloomberg on Thursday, ByteDance may need few more days after September 20 to reach an agreement with either of the parties due to the Chinese regulatory review.
However, Donald Trump has said "It'll either be closed up or they'll sell it. There will be no extension of the TikTok deadline."
The Chinese company has been looking for the best buyer to sell its US assets to, after Trump asked the company to leave the country alleging it of working as a secret intelligence for China. Trump administration believes TikTok has been used to supply US information to China — a country with whom the US is on a diplomatic and trade war.
However, ByteDance has repeatedly denied these allegations stating that the company never has, and never will share any data with the Chinese or any other government.
"I'm sure there are any number of backdoors that are built into the code and of course ByteDance knows exactly what they are, so there needs to be a clean, clear, total separation," Republican Senator Josh Hawley, a close ally of Trump, said while supporting Trump's decision.
Companies such as Microsoft and Oracle Corp are the potential new buyers.