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January 23
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The US President Donald Trump's administration has given ByteDance a 7-day grace period to ban its video-sharing app TikTok, Interfax reported.

Earlier, the Committee on Foreign Investment in the United States granted ByteDance a 15-day extension of the order, according to which the Chinese ByteDance Ltd. should sell US operations to TikTok. This deadline was to expire on Friday.

In August, Trump issued a decree ordering the sale of TikTok's American business by November 12.

Back in September, ByteDance agreed on a deal with Oracle and Walmart to spin-off TikTok's operations into a new company, TikTok Global. According to the deal, Oracle and Walmart should receive a total of 20% of TikTok Global, ByteDance 80%. Given that ByteDance is 40% owned by American investment funds, TikTok Global, taking into account the shares of Oracle and Walmart, would be controlled by US investors.

The deal was supported by Trump, but the further process of its approval by the US authorities has stalled.

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