
A sale of the viral video app is considered to be the last resort for ByteDance, said the people, who asked not to be identified discussing private matters.
A divestiture would also require approval by the Chinese government, which said last year that it would firmly oppose a forced sale. No plans are final, and would depend on how the legislation progresses, the people said.
TikTok CEO Shou Chew went to Capitol Hill on Tuesday to lobby against a bill that would force the app’s Chinese parent to sell it or face a ban in the US.
The bill was advanced by a key committee last week, and to move forward, the bill would need to clear a floor vote in the US House of Representatives on Wednesday — the furthest any federal TikTok legislation has gotten.
The company will continue making its case to members in the Senate, where the existing bill from the House has no co-sponsor, said one of the people familiar with the matter.
A TikTok spokesperson declined to comment on the company’s plans. The legislation “has a predetermined outcome: a total ban of TikTok in the United States,” the spokesperson said.
The company discussed the possibility of separating from ByteDance in March 2023, Bloomberg reported at the time. Such a move would have been pursued only if the company’s existing proposal with US national security officials didn’t get approved.
There hasn’t yet been a public resolution on the national security review undertaken by the Biden administration.