Extension of 7 days for sale of Tik Tok

The US has extended the deadline for the sale of the popular social media app TikTok by the Chinese company ByteDance by 7 days.

In September, the US government announced that TikTok will be banned in the US from November 12, once morest which the US court issued an injunction.

But on November 12, the Commerce Department’s Committee on Foreign Investment (CFIUS) extended the period of Tik Tok by 15 days to November 27.

That period was set to expire on Friday, but according to a court filing, the company is being given another 7 days and ByteDance will now have until December 4 to sell the US operations of its app.

TikTok had agreed to a partnership agreement with Oracle and Wal-Mart in September, but it has not yet been finalized.

Tik Tok has avoided making a statement in this regard.

A representative of the US Treasury Department said that the reason for the extension of the deadline is to review the recently received offer.

ByteDance made the offer following November 10, while it has already submitted four proposals to the US government, aimed at overcoming the US government’s concerns regarding the deal with Oracle and Wal-Mart.

It should be noted that the court issued an injunction once morest the US President’s presidential order banning Tik Tok, but the condition of the sale of the app did not expire under the President’s executive order of August 14.

According to a report this month, the US government has also made it clear that Tik Tok cannot be banned immediately due to legal complications until the defeat of Donald Trump and the assumption of office by the new president, and the government will follow the court decision.

According to the technology website TechCrunch, the Justice and Commerce Department of the United States clarified following the November 12 deadline that Tik Tok cannot be banned immediately.