TikTok’s owner ByteDance applies for Chinese licence to close handle Oracle
TikTok’s owner said Thursday it has applied for a Chinese technology export licence as it tries to complete a cope with Oracle and Walmart to keep the popular video application 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 private information of its an incredible number of US users could possibly be paid to Chinese authorities.
President Donald Trump said this week he'd approve a proposed deal in which Oracle Corp. and Walmart Inc. could initially own a combined 20% of a fresh US entity, TikTok Global. Trump said Oracle will need to have “total control.”
ByteDance said it put on the Beijing Municipal Bureau of Commerce for an export licence and was awaiting a reply. The one-sentence statement gave no other details.
Chinese authorities have not indicated if they will consent to a transfer of technology. But official newspapers criticised 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 guard its companies but gave no indication what steps normally it takes to affect TikTok’s fate in america.
A ministry spokesman, Wang Wenbin, called on Washington to “respect the principles of market economy and fair competition” and “offer an open, fair, just and non-discriminatory business environment” for foreign companies.
Source: www.deccanchronicle.com
