TikTok to challenge U.S. order banning transactions with the video app: Sources

TikTok is preparing to mount a legal challenge as early as Monday to President Donald Trump’s executive order prohibiting transactions with the popular short video app and its Chinese parent ByteDance, according to people familiar with the matter.

Trump issued an executive order on Aug. 14 that gave ByteDance 90 days to divest the U.S. operations of TikTok. ByteDance has been making progress in talks with potential acquirers, including Microsoft Corp and Oracle . Some of ByteDance’s U.S. investors could also join the winning bid.