US grants Tiktok owner ByteDance new extension of sale order

The Trump administration has 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.

The administration had earlier granted ByteDance a 15-day extension of the order issued in August, which was set to expire Friday. The new deadline is December 4.

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

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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.

The Tiktok owner made the proposal after disclosing on November 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."