Former Treasury Secretary Mnuchin putting together investors to buy TikTok, CNBC reports


A person arrives at the offices of Tik Tok after the U.S. House of Representatives overwhelmingly passed a bill that would give TikToks Chinese owner ByteDance about six months to divest the U.S. assets of the short-video app or face a ban in Culver City California U.S. March 13 2024.  REUTERSMike BlakeFile Photo

A person arrives at the offices of Tik Tok after the U.S. House of Representatives overwhelmingly passed a bill that would give TikTok's Chinese owner ByteDance about six months to divest the U.S. assets of the short-video app or face a ban, in Culver City, California, U.S., March 13, 2024. REUTERS/Mike Blake/File Photo

(Reuters) - Former U.S. Treasury Secretary Steven Mnuchin is putting together an investor group to try to buy TikTok, he told CNBC on Thursday.

His comment comes just a day after the U.S. House of Representatives passed a bill that would give the short-video app's Chinese owner ByteDance about six months to divest the U.S. assets or face a ban.

TikTok had called the bill a "ban" and urged senators to listen to their constituents before taking any action.

"I think the legislation should pass and I think it should be sold," Mnuchin told CNBC's "Squawk Box" on Thursday. "It's a great business and I'm going to put together a group to buy TikTok," he said.

TikTok CEO Shou Zi Chew said on Wednesday that the company will exercise its legal rights to prevent a ban.

(Reporting by Arsheeya Bajwa in Bengaluru; Editing by Anil D'Silva)

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Others Also Read


Want to listen to full audio?

Unlock unlimited access to enjoy personalise features on the TheStar.com.my

Already a member? Log In