Kevin OLeary says he would love to do a TikTok deal, but the law prevents it
Summary
Canadian investor Kevin OLeary is still interested in a TikTok deal, but its not possible under current law, he told CNBC, as President Donald Trump extended the deadline for a ban on the social media platform. As part of a wave of executive orders after his inauguration Monday, Trump delayed by 75 days the imposition of a law that would see TikTok effectively banned, allowing his administration "an opportunity to determine the appropriate course of action." McCourt confirmed to CNBC that the Project Liberty team remained "ready to work collaboratively with the Trump Administration, ByteDance, and a consortium of American partners to finalize this critical deal." Sarah Kreps, Director at the Tech Policy Institute at Cornell University, agreed the executive order was not consistent with Supreme Courts decision, adding that it said nothing about progress toward a qualified divestiture. "When it comes to actions such as the operation and acquisition of businesses, we believe they should be independently decided by companies in accordance with market principles," a Beijing spokesperson told reporters Monday when asked about President Donald Trumps proposal.