No deal between US and TikTok as asset sale deadline nears: Source

San Francisco: Shortform video app TikTok and the Trump administration had not come to terms over sale of the company’s US operations late Friday as a deadline loomed, according to a source familiar with the matter.

The Committee on Foreign Investment had given TikTok parent ByteDance, based in China, until midnight to come up with an acceptable deal to put TikTok’s American assets into US hands.

Talks between TikTok and government negotiators will continue even after the deadline passes, and people in the US will still be able to use the popular smartphone app for sharing video snippets, the source said.