Caixin
Mar 09, 2024 06:17 AM
BUSINESS

TikTok Divestment Push Advances With House Committee Approval

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TikTok’s U.S. business could be valued at $40 billion to $50 billion
TikTok’s U.S. business could be valued at $40 billion to $50 billion

(Bloomberg) — A top Republican lawmaker said he would seek a House vote next week on a bill that would force TikTok’s Chinese parent to sell the app or face a ban in the United States, injecting new momentum into a congressional push to curtail Beijing’s influence over the video-sharing service.

The legislation, which was advanced by a key committee on Thursday, would block internet service providers and app stores such as those run by Apple Inc. and Alphabet Inc.’s Google from offering the platform unless TikTok’s Chinese parent ByteDance Ltd. sells it within six months.

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