by Rohan Goswami and Jesse Pound at CNBC
- Former Treasury Secretary Steven Mnuchin said he is putting together an investor group to try to buy TikTok.
- “I think the legislation should pass and I think it should be sold,” Mnuchin told CNBC’s “Squawk Box” on Thursday.
- Mnuchin’s statements come shortly after the House of Representatives on Wednesday passed a bill that would force ByteDance to divest TikTok or the social media site would face a ban in the U.S.
Former Treasury Secretary Steven Mnuchin is building an investor group to acquire ByteDance’s TikTok, as a bipartisan piece of legislation winding its way through Congress threatens its continued existence in the U.S.
The House of Representatives on Wednesday passed a bipartisan bill that if signed into law would force ByteDance to either divest its flagship global app or face an effective ban on TikTok within the U.S.
“I think the legislation should pass and I think it should be sold,” Mnuchin, who leads Liberty Strategic Capital, told CNBC’s “Squawk Box” on Thursday. “It’s a great business and I’m going to put together a group to buy TikTok.”
There is common ground between Liberty and ByteDance. Masa Son’s SoftBank Vision Fund invested in ByteDance in 2018, and is also a limited partner in Mnuchin’s Liberty Strategic.
The bill is now headed to the Senate,…
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