Chinese parent company of TikTok, ByteDance has refuted that it is considering selling the popular social media platform.
In a statement posted on its news platform Toutiao on Thursday, ByStance described the reports as false rumour.
The clarification is coming in the wake of President Joe Biden’s bill threatening a ban unless it divests its ownership.
The statement is the first response by TikTok since Biden signed the bill.
The document mandates the company to divest TikTok, setting a deadline of nine months for the sale, with the possibility of a three-month extension if negotiations are ongoing.
However, TikTok has staunchly refuted allegations of being a security threat and has asserted its independence from the Chinese government’s influence.
