Chinese foreign spokesman Wang Wenbin said that China has no interest in the U.S. election and urged certain people in the United States to stop ‘suppressing’ Chinese companies
The comments marked the first time the U.S. government has acknowledged that TikTok was under review by the Committee on Foreign Investment in the United States , which scrutinizes deals by foreign acquirers for potential national security risks and is led by Treasury.
Reuters reported in November that the app’s Chinese parent, Beijing ByteDance Technology Co was being probed by CFIUS over its $1 billion purchase of social media app Musical.ly, after lawmakers raised concerns over how it stores personal data as well as allegations of censorship. The committee can force ByteDance to unwind the deal, or take other measures to mitigate the national security threat. Reuters reported earlier on Wednesday that ByteDance has received a proposal from some of its investors, including Sequoia and General Atlantic, to transfer majority ownership of TikTok to them. Some ByteDance investors are valuing the popular app at about $50 billion.
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