ByteDance says 'no plans' to sell TikTok after US ban law

April 26, 2024 08:18 AM

TikTok parent ByteDance has said it has no intention of selling it, after the US Congress passed a law forcing it to sell the hugely popular video platform or get banned in the United States.

ByteDance's comment came after the tech business-focused news site The Information reported that the Chinese tech giant was looking at potential scenarios for selling TikTok without the coveted recommendation algorithm that powers it.

"Foreign media reports about ByteDance exploring the sale of TikTok are untrue," the company posted late Thursday on its official account on Toutiao, a social media platform it owns.

"ByteDance does not have any plans to sell TikTok."

US Congress members and government officials have said TikTok presents a national security threat as long as it is controlled by or connected to ByteDance.

They have alleged it could be used to collect data and spy on Americans, and also serve as a powerful channel for Chinese propaganda.

TikTok has strongly denied the allegations, saying it never has and never will share US user data with Beijing.

TikTok CEO Shou Zi Chew has said the company will take the fight against the new law to the courts.