TikTok’s leadership is discussing the possibility of separating from ByteDance, its Chinese parent company, to help address concerns in the US about national security risks.
A divestiture, which could result in a sale or initial public offering, is considered a last resort, to be pursued only if the company’s existing proposal with national security officials doesn’t get approved, according to people familiar with the matter, who declined to be named discussing non-public information.
But Cfius, which is a panel of multiple agencies involved in national security, has stalled in its review process, leaving TikTok unsure of whether its plans will be sufficient to continue operating in the US, the people said. Members of the committee from the US Justice Department have been unwilling to accept TikTok’s proposal, according to other people familiar with the matter.
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