Former U.S. Treasury Secretary: Forming an investor team to bid for TikTok

According to CNN, former U.S. Treasury Secretary Steven Mnuchin revealed on Thursday that he is actively preparing a team of investors to bid for TikTok.

At 10 a.m. local time on March 13, the U.S. House of Representatives passed a bill to divest TikTok, the social software owned by ByteDance, with 352 votes in favor and 65 votes against. According to this site’s understanding, the bill requires ByteDance to divest TikTok within the next 165 days from the date of enactment, otherwise TikTok will face a ban in the United States. If the bill is formally passed, it will force ByteDance to sell TikTok. Otherwise, app stores such as Apple and Google will be forced to stop providing web hosting services to TikTok, and TikTok will not be able to do business with other American companies.

Mnuchin told CNBC on Thursday morning: "This is a very valuable deal, and I am planning to put together a team to acquire TikTok." Although TikTok may not be profitable currently, he added: "Its value is very substantial."

Mnuchin said he would allow existing U.S. investors to delay selling their shares in TikTok, but he also stressed that no entity would own more than 10 % control.

The above is the detailed content of Former U.S. Treasury Secretary: Forming an investor team to bid for TikTok. For more information, please follow other related articles on the PHP Chinese website!