ByteDance, the parent company of TikTok, has been in the news in recent months around the tensions between the US and TikTok. It was actually intended that the sale of TikTok would be completed before November 12. There is now a postponement until November 27. After that, the deal must be finalized.
Earlier, the judge ruled that the blockade that would take effect on November 12 was illegal – there was little evidence from the US government to justify the blockade. This means that the application can still be downloaded. However, tensions have arisen again because ByteDance now has to come up with a deal before November 27.
According to the Committee on Foreign Investment in the United States (CFIUS), the November 12 blockade has now been postponed by 15 days. As a result, the deal for TikTok must be completed by November 27 at the latest. The consequences if no deal takes place is as yet unknown. Of course there is a possibility that lawsuits will arise, which will result in a new postponement.
The TikTok is now a great success worldwide.