Mnuchin Is Putting Together Group of Investors to Buy TikTok (1)

Former US Treasury Secretary Steven Mnuchin is putting together a group of investors to buy TikTok from its parent company ByteDance Ltd.

“It’s a great business,” Mnuchin said in an interview with CNBC. “It should be owned by a US business. There’s no way the Chinese would ever let a US company run something like this in China.” He added that the social-media app would be remade in the US with homegrown technology.

Mnuchin said that he has spoken to a number of potential investors but he declined to give any specifics. No investor would own over 10% of ...