ByteDance has earned more time to restructure ownership of its video sharing app TikTok in the US after the Trump administration granted another extension on a deadline for the business to be sold.
The Committee on Foreign Investment in the US granted a one-week extension on the deadline, which was set to expire on Friday, the company’s lawyers and the US Treasury said on Wednesday.
The new timeline gives ByteDance until December 4 to secure an arrangement that resolves US national security concerns about TikTok or potentially be forced to sell the app’s US operations.
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