China's TikTok is considering separating from parent ByteDance to help address U.S. concerns about national security risks, Bloomberg News reported on Tuesday, citing people familiar with the matter.
A divestiture, which could result in a sale or initial public offering, is considered a last resort and will be pursued only if the company's existing proposal with U.S. national security officials does not get approved, Bloomberg reported.
CFIUS has stalled in its process, leaving TikTok unsure of whether its plans will be sufficient to continue operating in the country, according to the report.
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