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ByteDance unlikely to sell TikTok, as former Trump official plots purchase

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ByteDance unlikely to sell TikTok, as former Trump official plots purchase

Enlarge (credit: Aurich Lawson | Getty Images Pool)

Former US Treasury Secretary Steven Mnuchin is reportedly assembling an investor group to buy TikTok as the US comes closer to enacting legislation forcing the company to either divest from Chinese ownership or face a nationwide ban.

"I think the legislation should pass, and I think it should be sold," Mnuchin told CNBC Thursday. "It’s a great business, and I’m going to put together a group to buy TikTok."

Mnuchin currently leads Liberty Strategic Capital, which describes itself as "a Washington DC-based private equity firm focused on investing in dynamic global technology companies."

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