ByteDance is reportedly walking away from the proposed sale of TikTok to Oracle and Walmart following Donald Trump’s defeat in the US Presidential election, the South China Morning Post says.
China’s ByteDance is now looking to restructure its US operations, the newspaper claims, citing ‘sources familiar with the matter’.
A source told SCMP that the original deal was designed to ‘entertain demands from the Trump administration,’ but following Trump’s exit from the White House, ‘the raison d’être of the deal is gone with him’.
Source: Computing
Omni Talk is the retail blog for retailers, written by retailers. Chris Walton and Anne Mezzenga founded Omni Talk in 2017 and have quickly turned it into one of the fastest growing blogs in retail. 