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8/1, 3:56 PM (Source: TeleTrader)
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ByteDance to give up TikTok's US operations - report

Chinese multinational internet technology company ByteDance said on Saturday it will give up TikTok’s operations on the United States territory in order to preserve a deal with the White House.

Sources familiar with the situation told Reuters that under the new proposed deal, ByteDance would abandon the US operations and let Microsoft Corp take over.

The US President Donald Trump stated earlier he will prohibit TikTok from operating in the country over security concerns.

Breaking the News / TF