A deadline for ByteDance to restructure TikTok’s operations has passed without a deal, as the Chinese company remains in advanced negotiations about the short video app’s status in the US.
The Committee on Foreign Investment in the US, which is reviewing ByteDance’s ownership of TikTok, had not approved a deal by the deadline on Friday, according to two people briefed on the matter. They said Cfius would not grant an extension, after already delaying the deadline twice in recent weeks.
The people added that Cfius was not expected to take any immediate action against ByteDance, as the parties remained in advanced talks about a deal.
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