Last Updated: March 15, 2023, 15:32 IST
TikTookay is critical about its play within the US market
The administration is contemplating the potential of separating from father or mother agency, China’s ByteDance, to assist tackle U.S. considerations about nationwide safety dangers.
(Reuters) – Short video app TikTookay’s administration is contemplating the potential of separating from father or mother agency, China’s ByteDance, to assist tackle U.S. considerations about nationwide safety dangers, Bloomberg News reported on Tuesday, citing folks acquainted with the matter.
A divestiture, which may end in a sale or preliminary public providing, is taken into account a final resort, and to be pursued provided that the corporate’s present proposal with U.S. nationwide safety officers doesn’t get accepted, Bloomberg reported.
TikTookay is present process a nationwide safety evaluation by the Committee on Foreign Investment within the United States and it agreed final yr to implement quite a lot of measures to handle U.S. officers’ safety considerations.
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(This story has been edited by News18 employees and is printed from a syndicated news company feed)
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