NEW YORK: China has denied reports claiming that the video-sharing platform TikTok is being sold to Elon Musk in an effort to circumvent a potential ban in the US. The US government had previously enacted new legislation citing national security concerns regarding TikTok, which is owned by the Chinese company ByteDance.
Under these new regulations, TikTok's shares must be sold to a non-Chinese company to avoid a ban. Following this, reports emerged suggesting that Elon Musk was preparing to acquire TikTok. However, China has dismissed these claims. There is a heightened likelihood of TikTok getting banned in the US once Donald Trump assumes office as the new president.
The reports state that despite the ban potentially benefiting his X platform, Musk had earlier expressed his opinion that TikTok should not be banned in the US. Donald Trump is known for his tough stance on China, which could pose challenges for TikTok and its parent company, ByteDance.