New Chinese rule means TikTok sale would need government approval

This could complicate things

New Chinese rule means TikTok sale would need government approval
China must now approve any sale of U.S. operations by ByteDance, the parent company of TikTok. (Source: CNN)

(CNN) – The potential purchase of TikTok in the United States is facing new hurdles.

China must now approve any sale of U.S. operations by ByteDance, the parent company of the popular social media app.

Chinese government ministers said regulations were recently changed to “protect national security.”

President Donald Trump also cited national-security concerns in the efforts by his administration to ban TikTok unless it’s sold.

The United States has given ByteDance until Sept. 20 to sell. For its part, TikTok is suing the Trump administration over its efforts to ban the app.

Walmart and Tech giant Microsoft are said to be vying for the app in a joint bid. Oracle is also reported as being interested.

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