TikTok’s owner ap­plies for Chi­nese li­cense to close US deal

Arab Times - - BUSINESS -

TikTok’s owner said Thurs­day it has ap­plied for a Chi­nese tech­nol­ogy ex­port li­cense as it tries to com­plete a deal with Or­a­cle and Wal­mart to keep the pop­u­lar video app oper­at­ing in the United States.

Bei­jing tight­ened con­trol over tech­nol­ogy ex­ports last month in an ef­fort to gain lever­age over Washington’s at­tempt to force an outright sale of TikTok to US own­ers. The White House says the video ser­vice is a se­cu­rity risk be­cause the per­sonal in­for­ma­tion of its mil­lions of US users could be handed over to Chi­nese au­thor­i­ties.

Pres­i­dent Don­ald Trump said this week he would ap­prove a pro­posed deal in which Or­a­cle Corp. and Wal­mart Inc. could ini­tially own a com­bined 20% of a new US en­tity, TikTok Global. Trump said Or­a­cle must have “to­tal con­trol.”

ByteDance said it ap­plied to the Bei­jing Mu­nic­i­pal Bureau of Com­merce for an ex­port li­cense and was await­ing a re­ply. The one-sen­tence state­ment gave no other de­tails.

Chi­nese au­thor­i­ties have not in­di­cated whether they will agree to a trans­fer of tech­nol­ogy. But of­fi­cial news­pa­pers crit­i­cized the pro­posed deal this week as bul­ly­ing and ex­tor­tion.

“China has no rea­son to give the green light to such a deal, which is dirty and un­fair,” said the news­pa­per China Daily on Wed­nes­day.

On Thurs­day, the for­eign min­istry said China will “take nec­es­sary mea­sures” to safe­guard its com­pa­nies but gave no in­di­ca­tion what steps it can take to af­fect TikTok’s fate in the United States. (AP)

In this file photo, women wear­ing masks to pre­vent the spread of the coro­n­avirus chat as they pass by the head­quar­ters of ByteDance, own­ers of TikTok, in Bei­jing, China. TikTok’s owner said Sept 24, that it has ap­plied for a Chi­nese tech­nol­ogy ex­port li­cense as it tries to com­plete a deal with Or­a­cle and Wal­mart to keep the pop­u­lar video app oper­at­ing in the United States. (AP)

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