Chinese authorities are planning to sell TikTok's U.S. operations by a billion yen if the company fails to avoid a possible ban, Bloomberg News reported Monday, citing people familiar with the matter. The company is reportedly considering the option of selling it to billionaire Elon Musk.
Chinese authorities want TikTok to remain under the control of parent company ByteDance, the report said, adding that the company has appealed to the US Supreme Court to challenge the ban.
The report said that under one scenario, Musk's social media platform It added that no agreement had been reached and discussions were still at a preliminary stage.
TikTok declined to comment, and Musk did not immediately respond to a request for comment. Mr. X could not be reached for comment.
There was no immediate comment from the Cyberspace Administration of China and China's Ministry of Commerce, two government agencies that could be involved in decisions about TikTok's future.
Last week, the Supreme Court sale or ban The justices focused on national security concerns against China, which led to the crackdown in the U.S. as recently as Jan. 19, when the popular short-video app TikTok was busted.
