News > Beijing unlikely to approve ByteDance’s TikTok deal with Oracle, says Global Times

Beijing unlikely to approve ByteDance’s TikTok deal with Oracle, says Global Times

News India | 22/09/2020 09:31 AM | Click to read full article

ByteDance has said it will create a U.S. subsidiary partly owned by U.S. majors Oracle and Walmart and managed mainly by Americans.

“If the reorganization of TikTok under U.S. manipulation becomes a model, it means once any successful Chinese company expands its business to the U.S. and becomes competitive, it will be targeted by the U.S. and turned into a U.S.-controlled company via trickery and coercion, which eventually serves only U.S. interests."

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