The Chinese government is considering allowing Elon Musk to acquire TikTok’s US unit and integrate it with his social media platform X, if the US Supreme Court upholds a ban on the short-video app, Bloomberg reported.
The news agency stated if a deal was to be reached, X would take control of TikTok US, with about 170 million users, and operate the platforms together. The tie-up could be valued at between $40 billion and $50 billion.
A representative of ByteDance-owned TikTok, which is focused on fighting the ban, said it would not comment on “pure fiction”.
With China facing difficult negotiations with the in-coming Donald Trump administration over tariffs and export controls, Bloomberg wrote the government sees talks with Musk, a close adviser to Trump, as a potential area for China-US reconciliation.
The Chinese government made clear earlier it would have a say over any potential sale of TikTok.
Radio Free Mobile founder Richard Windsor stated in March 2024 China was unlikely to approve a divestment, as it would not allow critical algorithms to be in the hands of foreign-owned companies.
US Supreme Court justices reportedly are in favour of upholding a ban on TikTok, which goes into effect 19 January, due to national security concerns.
US President Joe Biden signed legislation in April 2024 which forces ByteDance to divest its ownership in TikTok or face a nationwide ban.
The post Musk emerges as potential TikTok saviour appeared first on Mobile World Live.
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