BEIJING/SHANGHAI (Reuters) - China's new rules around tech exports mean ByteDance's sale of TikTok's U.S. operations could need Beijing's approval, a Chinese trade expert told state media, a requirement that would complicate the forced and politically charged divestment.
ByteDance has been ordered by President Donald Trump to divest short video app TikTok - which is challenging the order - in the United States amid security concerns over the personal data it handles.
Microsoft Corp <MSFT.O> and Oracle Corp <ORCL.N> are among the suitors for the assets, which also includes TikTok's Canada, New Zealand and Australia operations.
However, China late on Friday revised a list of technologies that are banned or restricted for export for the first time in 12 years and Cui Fan, a professor of international trade at the University of International Business and Economics in Beijing, said the changes would apply to TikTok.
...
Read More on Datafloq
No comments:
Post a Comment