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Chinese officials are reportedly holding preliminary discussions about the possibility of selling TikTok’s U.S. operations to billionaire Elon Musk if the platform cannot avert an imminent ban, Bloomberg News reported on Monday.

The report indicates that TikTok’s U.S. assets might be sold either through a competitive bidding process or via a government-mandated arrangement, signaling that ByteDance’s control over the app’s future could be diminishing.