It is quite expected that no one began to force the execution of the deal to separate the American business of TikTok into an independent company in the midst of the presidential election, so the Chinese company ByteDance received another delay until December 4. The US authorities are expected to study new proposals from the Chinese side on the structure of the deal by this date.
Initially, President Donald Trump took the initiative to ban TikTok in the United States in its current form on August 14, ordering Chinese business owners to transfer it to American shareholders within 90 days. The ban on downloading TikTok by American users was subsequently blocked by a court decision, and consideration of the deal to restructure TikTok’s assets in the United States was postponed many times. The latest decision of American regulators extends this period by one more week.
As noted by Reuters, in the latest configuration, which the American side is now considering, the deal implies the presence of some proposals by ByteDance, designed to meet the requirements of the US authorities. The essence of these proposals has not been specified, but this is the fourth version of the changes. In its original form, the alliance between Walmart and Oracle was to receive a large stake in TikTok Global, and it was Oracle that was to deal with the processing and storage of data of American users of the service.
At one time, the Chinese authorities protested against the transfer of the unique TikTok recommendation algorithm under the control of the Americans, declaring their right to restrict the export of this part of the program code. How their position has changed since September has not yet been specified. ByteDance representatives have filed several lawsuits against US agencies urging them to transfer TikTok assets to US shareholders. Some of these cases will be heard in courts as early as January, when US President-elect Joseph Biden takes office. His position on the situation with TikTok is still publiclydid not formulate.
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