Afghanistan, Sept. 26 -- U.S. President Donald Trump approved a divestment deal for TikTok's American assets, reducing Chinese parent company ByteDance's ownership to below 20 percent amid security concerns.
U.S. President Donald Trump on Thursday signed an executive order initiating the sale of TikTok's American assets to U.S. and international investors, in line with a 2024 law addressing national security concerns.
Under the order, a new company valued at about $14 billion will be created. Vice President J.D. Vance noted the figure was far below earlier analyst estimates of $30-40 billion.
Speaking at the White House, Trump said the goal of the deal was to "protect the data of American users." He stressed the company would be "entirel...