Azernews.Az

By Alimat Aliyeva

The Chinese technology company ByteDance has confirmed that it has no plans to sell a controlling stake in TikTok to a group of American companies led by Oracle Corporation, Azernews reports.

When asked whether the parent company had agreed to sell TikTok’s U.S. operations to a consortium of American firms headed by Oracle, while retaining a minority stake, ByteDance denied the reports, stating, "This information is not true." "There were similar rumors in April, and ByteDance officially issued a denial at that time," the company added.

Earlier, The Information reported that a deal to sell TikTok to a group of investors, including Oracle, was reportedly nearing completion.

On June 29, former U.S. President Donald Trump mentioned in an interview with Fox News that "a group of very rich people" was prepared to purchase TikTok from ByteDance. Trump also indicated that he would be ready to name these buyers "in about two weeks."

The rumors surrounding TikTok’s potential sale have been swirling for months, with the app facing increasing scrutiny from U.S. lawmakers and officials due to national security concerns over its data handling practices. However, ByteDance’s consistent denial of the sale has sparked speculation about the company’s long-term strategy, especially as it faces growing competition from other social media platforms in both the U.S. and globally. TikTok’s ability to maintain control of its American operations may ultimately hinge on how it navigates these complex political and regulatory challenges.