Last Update: March 15, 2023, 15:32 IST
Tiktok is serious about its role in the US market
Management is looking into the possibility of splitting off parent firm, China’s ByteDance, to help address US concerns about national security risks.
(Reuters) – The management of short video app TikTok is considering the possibility of splitting from parent firm, China’s ByteDance, to help address US concerns about national security risks, Bloomberg News reported on Tuesday. Citing people familiar with the
Bloomberg reported that a divestment, which could result in a sale or initial public offering, is considered a last resort, and is only pursued if the company’s current proposal with US national security authorities is not approved.
TikTok is undergoing a national security review by the Committee on Foreign Investment in the United States and it agreed last year to implement a number of measures to address security concerns from US authorities.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)