ByteDance is in talks with the US govt about how it can retain some ownership of TIkTok’s US ops while also satisfying regulators in China and the US. Possible workarounds include handling over the data control to American tech firm while “still holding on to some ownership assets”. Earlier, there were reports that ByteDance has chosen a buyer and was going to announce the details soon but there’s a possibility that new Chinese law wouldn’t let the deal happen.

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