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The Chinese government has reportedly taken stakes in ByteDance and Weibo as its hold on tech tightens

August 18, 2021
Source: businessinsider.in businessinsider.in
News Snapshot:
AP Photo/Ng Han Guan The Chinese government has acquired a stake in TikTok parent ByteDance and China 's Twitter equivalent Weibo as its willingness to assert control over China's tech giants grows. TikTok itself does not appear to be directly implicated, according to a source who spoke to Reuters. The news comes as a flurry of regulatory actions against Chinese tech companies has tanked US-listed shares. The Chinese government has acquired a stake in TikTok parent ByteDance and Twitter -for-China Weibo as its willingness to assert control over China's tech giants grows, according to several reports. While TikTok itself does...
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