China Interferes With TikTok Sale Ordered By US Govt

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TikTok

According to Eth Studios sources, the Chinese government is currently interfering and complicating the sale of TikTok assets as ordered by the United States government.

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Thus, China on this past Friday initiated marketing limitations on artificial intelligence technology, whiles cleverly incorporating the type that TikTok uses to determine the kind of videos to pull up to its clients.

This therefore indicates that in order to export restricted technological assets to a foreign corporate entity, TikTok’s Chinese owner, ByteDance, would have to acquire a license first.

Meanwhile, we made an earlier report on this, indicating the intention of the U.S government to ban TikTok by acquiring it first through the Microsoft Corp.

The incumbent Donald Trump government has already threatened to ban TikTok by mid-September and therefore ordered the CEO to sell its U.S. business.

Further enquiries revealed that the government fears about user data being collected through the App to Chinese authorities.

Nevertheless, TikTok denies it is a national-security risk and is currently suing the Trump administration to stop it from the threatened ban.

In the meantime, Oracle, one of the able buyers of U.S. TikTok assets including Microsoft and Walmart has declined to comment on the issue.

The report from ABC said Chinese state-owned media outlet Xinhua News Agency on Saturday quoted government trade adviser and professor Cui Fan, who said that Bytedance should consider whether it should halt negotiations to sell TikTok in the U.S.

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The new restrictions introduced by the Chinese government may be a “tactic to drive up valuation” of TikTok, ABC News quoted RBC Capital Markets analyst Alex Zukin, who still expects a deal announcement “relatively soon.”

Meanwhile, ABC said Microsoft and Walmart declined to comment on Monday.

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