U.S. investors looking to purchase TikTok to avert ban

Business

(CNN) – American investors could step in to save TikTok in the United States.

A group of investors, including Venture Capital firms, Sequoia, and General Atlantic, are mulling buying a majority stake from TikTok’s Chinese parent company.

That’s according to the Financial Times.

The group is reportedly talking with the U.S. Treasury Department and other regulators about whether a spinoff of TikTok would quell U.S. concerns.

The video-sharing app is facing heightened scrutiny in Washington as tensions between the U.S. and China have been climbing.

The two powers are battling over trade, technology, national security, and human rights.

TikTok declined to comment on Thursday on a possible sale to U.S. investors.

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