China News Agency, Beijing, September 14 (Reporter Xia Bin) TikTok's US business has undergone a new change.
As the most likely target to reach a deal before, Microsoft issued a statement on September 13 local time that Chinese technology company Bytedance has stated that it will not sell TikTok's US business to Microsoft.
Microsoft said in a statement: "ByteDance told us today that they will not sell TikTok's US business to Microsoft."
US President Trump previously issued two administrative injunctions against TikTok and its parent company Bytedance, and publicly stated that unless TikTok completes the signing of an agreement to sell its US business, it must close its US business before September 15.
According to many US media reports, Bytedance is negotiating a solution not to sell its US business.
What is more noteworthy is that some sources said that ByteDance will not sell TikTok's US branch, and at the same time "will not hand over the source code to any US buyer."
"South China Morning Post" reported that people familiar with the discussion of the board of directors of TikTok's parent company Bytedance said that Bytedance has decided that it will not sell or transfer the algorithm behind the video sharing application when it sells or divests its assets.
According to reports, the company will not transfer the source code behind this social media platform.