NEW YORK: TikTok on Tuesday labeled as “pure fiction” a report that China is exploring a potential sale of the video-sharing platform’s US operations to billionaire Elon Musk as the firm faces an American law requiring imminent Chinese divestment.
Citing anonymous people familiar with the matter, Bloomberg News had earlier reported that Chinese officials were considering selling the company’s US operations to Musk’s social media platform X.
The report outlined one scenario being discussed in Beijing where X would purchase TikTok from Chinese owner ByteDance and combine it with the platform formerly known as Twitter.
“We cannot be expected to comment on pure fiction,” a TikTok spokesperson told AFP.
The report estimated the value of TikTok’s US operations at between $40 billion and $50 billion.
Although Musk is currently ranked as the world’s wealthiest person, Bloomberg said it was not clear how Musk could execute the transaction, or if he would need to sell other assets.
The US Congress passed a law last year that requires ByteDance to either sell its wildly popular platform or shut it down. It goes into effect on Sunday — a day before President-elect Donald Trump takes office.
The US government alleges TikTok allows Beijing to collect data and spy on users and is a conduit to spread propaganda. China and ByteDance strongly deny the claims.
TikTok has challenged the law, taking an appeal all the way to the US Supreme Court, which heard oral arguments on Friday.
At the hearing, a majority of the conservative and liberal justices on the nine-member bench appeared skeptical of arguments by a lawyer for TikTok that forcing a sale was a violation of First Amendment free speech rights.
Bloomberg characterized Beijing’s consideration of a possible Musk transaction as “still preliminary,” noting that Chinese officials have yet to reach a consensus on how to proceed.
Musk is a close ally of Trump and is expected to play an influential role in Washington in the coming four years.
He also runs electric car company Tesla, which has a major factory in China and counts the country as one of the automaker’s biggest markets.
Trump has repeatedly threatened to enact new tariffs on Chinese goods, which would expand a trade war begun in his first term and which was largely upheld, and in some cases supplemented, by outgoing President Joe Biden.
TikTok calls report of possible sale to Musk’s X ‘pure fiction’
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TikTok calls report of possible sale to Musk’s X ‘pure fiction’
US and Ukraine ‘a lot closer’ on peace deal, Trump says after meeting with Zelensky
- Zelensky sees agreement on security guarantees for Ukraine
- Hurdles to a comprehensive peace deal remain
- Trump spoke with Putin ahead of meeting on Sunday
PALM BEACH, Florida: US President Donald Trump said on Sunday that he and Ukrainian President Volodymyr Zelensky were “getting a lot closer, maybe very close” to an agreement to end the war in Ukraine, though both leaders acknowledged that some of the thorniest details remain unresolved.
The two leaders spoke at a joint press conference late Sunday afternoon after meeting at Trump’s Mar-a-Lago resort in Florida. Trump said it will be clear “in a few weeks” whether negotiations to end the war will succeed.
Zelensky said an agreement on security guarantees for Ukraine has been reached. Trump was slightly more cautious, saying that they were 95 percent of the way to such an agreement, and that he expected European countries to “take over a big part” of that effort with US backing.
Zelensky has said previously that he hopes to soften a US proposal for Ukrainian forces to withdraw completely from the Donbas region of eastern Ukraine, a Russian demand that would mean ceding some territory held by Ukrainian forces.
Both Trump and Zelensky said on Sunday the future of the Donbas had not been settled. “It’s unresolved, but it’s getting a lot closer. That’s a very tough issue,” Trump said.
Just before Zelensky and his delegation arrived at Trump’s Florida residence, Trump and Russian President Vladimir Putin spoke in a call described as “productive” by the US president and “friendly” by Kremlin foreign policy aide Yuri Ushakov.
Ushakov, in Moscow, said Putin told Trump a 60-day ceasefire proposed by the European Union and Ukraine would prolong the war. The Kremlin aide also said Ukraine needs to make a decision regarding the Donbas “without further delay.” And he said the Russian government had agreed to establish working groups to resolve the conflict that will focus on economic and security concerns.
Meeting follows Russian attacks on Kyiv
Zelensky arrived at Mar-a-Lago early Sunday afternoon, as Russian air raids pile pressure on Kyiv. Russia hit the capital and other parts of Ukraine with hundreds of missiles and drones on Saturday, knocking out power and heat in parts of Kyiv. Zelensky has described the weekend attacks as Russia’s response to the US-brokered peace efforts, but Trump on Sunday said he believes Putin and Zelensky are serious about peace.
The US president said he will call Putin again after meeting with Zelensky. Zelensky had previously told journalists he plans to discuss the fate of the contested Donbas region with Trump, as well as the future of the Zaporizhzhia nuclear power plant and other topics.
Russia claims more battlefield advances
Putin said on Saturday Moscow would continue waging its war if Kyiv did not seek a quick peace. Russia has steadily advanced on the battlefield in recent months, claiming control over several more settlements on Sunday.
While Kyiv and Washington have agreed on many issues, the issue of what territory, if any, will be ceded to Russia remains unresolved. While Moscow insists on getting all of the Donbas, Kyiv wants the map frozen at current battle lines.
The US, seeking a compromise, has proposed a free economic zone if Ukraine leaves the area, although it remains unclear how that zone would function in practical terms.
US negotiators have also proposed shared control over the Zaporizhzhia nuclear plant. Power line repairs have begun there after another local ceasefire brokered by the International Atomic Energy Agency, the agency said on Sunday.
Russia controls all of Crimea, which it annexed in 2014, and since its invasion of Ukraine nearly four years ago has taken control of about 12 percent of its territory, including about 90 percent of the Donbas, 75 percent of the Zaporizhzhia and Kherson regions, and slivers of the Kharkiv, Sumy, Mykolaiv and Dnipropetrovsk regions, according to Russian estimates.
Putin said on December 19 that a peace deal should be based on conditions he set out in 2024: Ukraine withdrawing from all of the Donbas, Zaporizhzhia and Kherson regions, and Kyiv officially renouncing its aim to join NATO. Zelensky’s past encounters with Trump have not always gone smoothly, but Sunday’s meeting follows weeks of diplomatic efforts. European allies, while at times cut out of the loop, have stepped up efforts to sketch out the contours of a post-war security guarantee for Kyiv that the United States would support.
On Sunday, ahead of the Mar-a-Lago visit, Zelensky said he held a detailed phone call with British Prime Minister Keir Starmer. Trump and Zelensky will hold a phone call with European leaders at some point during the Florida meeting, Trump said. The 20-point plan was spun off from a Russian-led 28-point plan, which emerged from talks between US special envoy Steve Witkoff, Trump’s son-in-law Jared Kushner and Russian special envoy Kirill Dmitriev, and which became public in November.
Subsequent talks between Ukrainian officials and US negotiators have produced the more Kyiv-friendly 20-point plan.
