Trump Orders ByteDance to Sell US Assets
On Friday, Trump ordered music video app TikTok's China-based ByteDance to sell its U.S. assets, citing a 90-day time limit on national security grounds. ByteDance is required to sell TikTok to an American buyer within 90 days.
Microsoft is rumored to be looking into acquiring TikTok's U.S. operations, and other potential buyers could appear, sparking a bidding war.
Microsoft's other competitors -- Facebook, Apple, Amazon, Alphabet Inc. -- are also suitable acquirers, though they are all now facing antitrust investigations by U.S. regulators that could complicate the potential deal.
Another executive order signed on Aug 6 is also targeting Tencent Holdings' WeChat, underscores the government’s tough attitude on Chinese tech giants as relations between the U.S. and China deteriorate and Trump faces a difficult election.
Comments
Post a Comment