ByteDance is likely to miss the deadline imposed by the Trump administration for the sale of TikTok's US assets as new Chinese regulations have complicated deal talks with bidders Microsoft Corp and Oracle Corp , Bloomberg reported on Thursday, citing people familiar with the matter.
Earlier in August, US President Donald Trump ordered the Chinese company ByteDance to divest its interest in video-sharing app TikTok's operations in the United States within 90 days.
"There is credible evidence that leads me to believe that ByteDance ... might take action that threatens to impair the national security of the United States," Trump said in the order.
The move adds to pressure for ByteDance to divest TikTok, and legally buttresses the Trump administration's crackdown on the Chinese-owned social media app.
TikTok has come under fire from US lawmakers over national security concerns surrounding data collection