TikTok Deal Faces Complications as U.S. and China Ratchet Up Tit-for-Tat [The New York Times]
NXP Semiconductors N.V. (NXPI)
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Source: The New York Times
SAN FRANCISCO — On most days, companies like ByteDance, Microsoft, Walmart and Oracle are considered kings within their fields. But over the weekend, it became increasingly clear that they can also be something else: a set of pawns.The industry titans have been caught in an escalating tit-for-tat between the United States and China overthe sale of the U.S. operations of TikToksale was ordered in early August by President TrumpFor weeks, China was critical of Mr. Trump’s order but stayed quiet on what it would do about it. That allowed ByteDance and TikTok to pursue sale talks with potential bidders like Microsoft, Walmart, Oracle and others. Then over the weekend, Beijing threw the whole process for a loop when itupdated its export control rulesNow a blockbuster deal that had been set to be completed soon has become far more complicated, according to three people close to the talks. Thetwo groups vying to buy TikTok’s U.S. businessled by Oracl“Certainly this deal and high tech in gene
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