Byte Dance may sell a majority stake in TikTuk to avoid US sanctions
Byte Dance maybe The tick-tock application of Chinese companies. Bite Dance is popular among young people all over the world. However, US officials have expressed. Security concerns over the application.
US senators have called for a security check, while the US. The Navy has called for the app to be installed on government-issued smartphones. The administration of Byte Dance is considering selling its majority stake. To investors to avoid the effects of further stringent US sanctions on the app.
By selling the shares, the company can save a lot of money, which will come in handy in the event of expected US sanctions. There is also a rumor that the company wants complete control over. The application and is ready to fight any legal battle for it.
According to the South China Morning Post, Bite. Dance has publicly denied rumors of selling its business. A company spokesman said the rumors were baseless. However, the government’s confidence in the United States is declining day by day.