Chinese company ByteDance, which is the parent company of TikTok, will enter into an agreement with US authorities to ensure that the application remains available in the United States.. Negotiations could begin as early as this week.
General Atlantic CEO Bill Ford announced this on Wednesday, January 22, during an event in Davos.. He is quoted by Axios General Atlantic is the main investor in the Chinese ByteDance, whose board of directors includes Bill Ford.
When asked whether an agreement would be reached, Ford replied: " It's in everyone's best interest"
According to him, the governments of China, the United States, as well as ByteDance and the board of directors should be involved in the negotiations, which could begin at the end of the week..
" The Chinese government, the US government, the company and the board of directors all need to be involved in this conversation,"
Ford also noted that the former Joe Biden administration is partly to blame for the situation reaching a boiling point because it did not “have a genuine dialogue with us.”.
Earlier, US President Donald Trump signed a decree giving ByteDance another 75 days to sell the American segment of its business.. Otherwise, the social network will be blocked in the USA.
Trump has repeatedly stated that he would consider an option in which half of the company would remain with the Chinese owner ByteDance, and the other half would be sold to an American investor..
Let us recall that the day before Donald Trump said that he was ready to support the purchase of TikTok by American billionaires Elon Musk or Larry Ellison, provided that the company should become half state-owned.
As of the time of Trump's executive order, ByteDance was not in negotiations with any potential buyers..
Access to the social network TikTok in the United States was limited on the evening of January 18.
The program became unavailable less than two hours before the official ban took effect.
Americans reacted in panic to the suspension of TikTok. Approximately 12 hours after the shutdown in the United States, the application was again available to many American users..
Trump put forward a condition for unblocking TikTok in the US. He said that in order for the popular app to continue operating in the country, it is necessary for the United States to acquire 50% of the company's ownership..