ByteDance not in preliminary talks to list TikTok on NYSE: source By Reuters

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© Reuters. FILE PHOTO: A 3D printed Tik Tok brand is seen in entrance of U.S. flag on this illustration

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(Reuters) – ByteDance is just not in preliminary discussions about itemizing video app TikTok on the New York Stock Exchange (NYSE), an individual accustomed to the matter mentioned, following a Chinese media report that talks have been underway.

The Global Times, revealed by China’s ruling Communist Party’s official People’s Daily newspaper, mentioned earlier on its Twitter account that ByteDance was in preliminary talks a few NYSE itemizing. Shortly after, it tweeted that ByteDance had denied the report.

No such talks have been being held, mentioned the supply, who declined to be named as they weren’t authorised to talk publicly on the matter.

ByteDance, which owns the video app, didn’t instantly reply to a Reuters request for remark concerning the matter.

Under stress from the Trump administration, ByteDance has been in talks for months to finalize a deal to shift TikTok’s American belongings into a brand new entity to handle U.S. safety considerations. Those talks have continued since Biden took workplace in January, sources have mentioned.

The White House has mentioned it has an ongoing overview of potential dangers posed by TikTok on U.S. knowledge. The U.S. Justice Department requested two federal appeals courts earlier this month to placed on maintain authorities appeals on decrease courts’ rulings blocking restrictions the Trump administration sought towards the app.

Two folks briefed on the matter instructed Reuters earlier this month a plan for traders over the TikTok deal may drag on for months amid the administration’s overview.

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