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Post: The White House denied reports about TikTok’s request to sell its stake in the business.

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The White House denied reports that US authorities demanded that TikTok sell its stake in the business.

WASHINGTON, March 16 – RIA Novosti. White House Strategic Communications Coordinator John Kirby refused to confirm reports of the Joe Biden administration’s request from the Chinese owners of the TikTok social network to sell a stake under threat of blocking the app in the United States.

“I can’t verify reports on the letter,” he told reporters when app owners were asked to approve the written request.

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Kirby added that Biden still has “legitimate national security concerns” about TikTok.

Citing sources earlier, the Wall Street Journal wrote that the White House asked TikTok owners to sell their shares, otherwise the application could be banned. TikTok representatives on Wednesday noted that the forced sale will not help address the perceived security risk, according to the Wall Street Journal.

ByteDance, the owner of TikTok, is reportedly 60% owned by global investors, 20% by its employees, and 20% by company founders with more voting rights. According to the publication, the company needs to spend $1.5 billion on a program to protect US users’ data and content from access by the Chinese government.

Earlier, TikTok’s management discussed the possibility of a split from Chinese parent company ByteDance to address US national security concerns.

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Source: Ria

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