China has just thrown a spanner into the TikTok sale of its US operation. By announcing an additional 23 new categories to its regulations on technology export, the China government has gained an advantage in the deal.
Any transaction involving these new categories, which the video platform falls under, will reguire government approval. This places any potential deal with Microsoft-Walmart, Oracle or Twitter in limbo.
According to reports, the update was released with the TikTok deal in mind.
China’s move will prevent the US$20 billion to US$30 billion sale of one of its biggest technology companies to the US. It’s seen as a countermove to the US government’s ban on TikTok operations in the country.
Entelechy Asia 