Other emerging markets have also been identified as potential beneficiaries of the divestment
[SINGAPORE] The forced sale of ByteDance’s TikTok in the United States was intended to curb the Chinese tech giant’s influence and standing in the global tech scene.
Yet, analysts who spoke to The Business Times believe that the reported US$14 billion deal – which is a little over 25 per cent of ByteDance’s projected 2025 profits of US$50 billion – will give the tech giant an opportunity to accelerate its global expansion, particularly in Asia.
On Jan 23, TikTok announced a joint venture by an Oracle-led consortium that will run its US operations. The deal is expected to dilute ByteDance’s stake in the entity to just 19.9 per cent.
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