TikTok granted 15-day extension to reach deal with U.S. buyers

CNC
Added On November 15, 2020

The U.S. government has granted TikTok a 15-day extension to reach a deal with U.S. buyers.

 
According to the U.S. District Court for the District of Columbia, the deadline for ByteDance, TikTok's Chinese parent company, to reach a deal with Oracle and Walmart has been extended to November 27.
 
A spokesperson with the U.S. Treasury Department said this extension will give the parties and the Committee on Foreign Investment in the U.S. additional time to resolve this case in a manner that complies with the president's order.
 
On August 6, U.S. President Donald Trump issued an executive order banning U.S. transactions with TikTok and ByteDance after 45 days.
   
On August 14, Trump signed another executive order that forces ByteDance to sell or spin off its U.S. TikTok business within 90 days, setting the deadline of November 12.