The TikTok parent in recent days told investors it was looking to buy back shares at about $180 a share, the newspaper said. A law signed by U.S. President Joe Biden on April 24, gives ByteDance until Jan. 19 to sell TikTok or face a ban. The White House has said it wants to see Chinese-based ownership ended on national-security grounds but not a ban on TikTok. TikTok and ByteDance sued in U.S. federal court in May, seeking to block the law signed by Biden. Both TikTok and ByteDance did not immediately respond to a Reuters request for comment.

Source: Wall Street Journal November 16, 2024 23:07 UTC