United States President Donald Trump stated on Sunday that he was in negotiations with four potential buyers for TikTok’s U.S. operations and that a deal could be finalized soon.
“We’re dealing with four different groups, and a lot of people want it,” Trump told reporters aboard Air Force One on Sunday. He didn’t specify the contenders nor say which way he was leaning, instead saying “all four are good.”
TikTok has until April 5 to secure a deal for its U.S. operations or face a ban under a bipartisan law passed during the Biden administration.
The U.S., TikTok’s most crucial market, saw its operations valued at up to $50 billion last year, while ByteDance continues to run Douyin in China.
Last week, Trump said he was open to extending the deadline again if needed but believed a deal could be reached within a month.
He had already postponed the initial January 19 deadline, preventing a prolonged TikTok blackout, and has consistently signaled willingness to negotiate a sale.
As part of the deal, he has suggested that the U.S. should receive a 50% stake in the company.
However, Beijing-based ByteDance has shown no interest in selling its U.S. operations, despite CEO Shou Chew meeting with Trump at Mar-a-Lago in December and attending the inauguration earlier this year.
The company has been working to address U.S. lawmakers’ national security concerns to maintain its presence in the country.
ByteDance is repurchasing employee shares at a $312 billion valuation, reflecting confidence in its expansion strategy, particularly in e-commerce, which capitalizes on its video platforms’ popularity.
This marks a significant increase from just over a year ago, despite ongoing uncertainty over its U.S. operations.
Any potential sale would require approval from China’s government, which has so far shown little support for such a move.
Officials have considered the possibility of Elon Musk acquiring TikTok’s U.S. operations, but the preferred outcome remains for the platform to stay under ByteDance, according to Bloomberg.
Musk, who owns X, has stated he is not interested.
