TikTok Creates Legal Entity to Eventually Maybe Possibly Sell to U.S. Investors (Don’t Call It a Done Deal)
TikTok has created a legal entity, potentially paving the way for a sale to U.S. investors, according to the article. The move comes as the company aims to comply with an executive order issued by former U.S. President Donald Trump, which threatened to ban the app unless its American operations were sold. The article emphasizes that this does not mean the deal is a done deal, as the process is still ongoing and the details are yet to be finalized. The creation of the legal entity is seen as a step forward, but the article cautions against interpreting it as a concrete agreement. The article also notes that the deadline for the transaction has been avoided, allowing more time for the negotiations to continue. However, the overall situation remains uncertain, with the final outcome yet to be determined.
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