Last Updated: March 15, 2023, 15:32 IST
TikTok is serious about its play in the US market
The management is considering the possibility of separating from parent firm, China’s ByteDance, to help address U.S. concerns about national security risks.
(Reuters) – Short video app TikTok’s management is considering the possibility of separating from parent firm, China’s ByteDance, to help address U.S. concerns about national security risks, Bloomberg News reported on Tuesday, citing people familiar with the matter.
A divestiture, which could result in a sale or initial public offering, is considered a last resort, and to be pursued only if the company’s existing proposal with U.S. national security officials does not get approved, Bloomberg reported.
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 U.S. officials’ security concerns.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)