12:20 PM EDT, 03/12/2024 (MT Newswires) -- Rumble (RUM) shares jumped 12% after the company offered to buy and operate TikTok in the US if ByteDance divests ownership in the social media platform.

"Rumble is ready to join a consortium with other parties seeking to acquire and operate TikTok inside the US," Chief Executive Officer Chris Pavlovski said Tuesday in a letter to ByteDance, according to a company post on X.

ByteDance did not immediately respond to a request for comment by MT Newswires.

The US House of Representatives is expected to pass legislation this week that would ban TikTok in the US unless ByteDance agrees to sell, media reports said Monday.

Price: 7.47, Change: +0.80, Percent Change: +11.90