US_ Mnuchin Putting Together Investor Group to Buy TikTok

NEWSMAX

Mnuchin Putting Together Investor Group to Buy TikTok

Treasury Secretary Steve Mnuchin announces the Trump administration's restoration of sanctions on Iran at the U.S. State Department in Washington, DC. (Patrick Semansky/AP/2020 file photo)

Thursday, 14 March 2024 09:25 AM EDT


Former U.S. Treasury Secretary Steven Mnuchin says he's going to put together an investor group to buy TikTok, a day after the House of Representatives passed a bill that would ban the popular video app in the U.S. if its China-based owner doesn't sell its stake.

TikTok, which has more than 170 million American users, is a wholly-owned subsidiary of Chinese technology firm ByteDance Ltd.

Speaking on CNBC's “Squawk Box,” Mnuchin said Thursday that he believes TikTok should be sold.

“This should be owned by U.S. businesses. There’s no way that the Chinese would ever let a U.S. company own something like this in China,” said Mnuchin.

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READ MORE: https://www.newsmax.com/finance/streettalk/mnuchin-tiktok-acquire/2024/03/14/id/1157234/

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