ByteDance Investors Could Win in TikTok Sale, GOP Lawmaker Says
- White House backs end to Chinese control, not a ban of the app
- Lawmakers chime in as House bill faces slow-walk in US Senate
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Investors in TikTok’s Chinese parent company stand to benefit if it sold the app because divestment would remove a source of uncertainty, a Republican lawmaker said.
“It would be in the financial interest of ByteDance’s investors to effectuate a forced sale,” Representative Mike Gallagher, who spearheaded a House-passed bill aimed at making the company divest TikTok to allow its continued operation in the US, said on CBS’s Face the Nation on Sunday.