Earlier in the week, the owner of TikTok, ByteDance, had said that the announcement on the final winning bid will be made soon. However, new complications have resulted from the latest rules imposed on the export of Chinese technological advancements (including digital algorithms). New restrictions have stalled the process as the bidders now need to work on what it means for the app purchase.
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The options currently available to bidders now include seeking Chinese permission for full sale, including algorithms, buying TikTok without its algorithm, licensing the algorithm from its owner, or setting up a transition period where the algorithm can be used for limited time.
Source: Socialmediatoday
