Trump said he is in talks with four potential buyers to quickly reach a deal on acquiring TikTok.

Local time on Sunday, US President Trump said he is in negotiations with four different potential buyers for TikTok's US business, and a deal for the social video app may be reached "very soon." Trump told reporters on Sunday: "We are dealing with four different groups, many people want it." He did not specify the competitors, nor did he say he favors any party, but rather said, "All four are good." March 5 is the deadline for the ByteDance-owned TikTok facing the "sell or ban" law to take effect - either reach an agreement for its US business, or be banned from entering the US under a bipartisan law passed during the Biden administration. So far, the US is its most important market, with TikTok's US business estimated to be worth as high as $50 billion last year. Previously, Trump said he was willing to extend the deadline again if necessary, but he believed an agreement could be reached within the next month. He has already postponed the initial deadline of January 19 to avoid a long-term ban on TikTok, and has repeatedly indicated his willingness to reach an agreement. In trying to broker the deal, Trump said he believed the US should get 50% of the company's shares as a condition. ByteDance has not indicated interest in selling its US business. TikTok has been working to alleviate US lawmakers' concerns about national security in order to continue operating in the US. ByteDance, currently valued at over $400 billion in the eyes of major investors such as SoftBank Group, is currently buying back employee shares at a valuation of $312 billion, showing confidence in its expansion strategy, which includes expanding its business in the e-commerce sector through the popularity of its video platform. This is a huge leap from a year ago, despite uncertainties surrounding its US business. Officials have been evaluating a potential option to have Elon Musk acquire TikTok in the US. Musk, who already owns the X social network, has expressed disinterest in this. Public bidders so far include a group led by billionaire Frank McCourt and Reddit co-founder Alexis Ohanian, as well as another group led by tech entrepreneur Jesse Tinsley and YouTube star Bist, and a merger proposal by Perplexity AI based in San Francisco. Trump also mentioned the name of Oracle co-founder Larry Ellison, as TikTok has partnered with Oracle to host its US user data.