Regulators Approve Vodafone Spain Sale
The country’s regulators approved Vodafone’s sale of its Spain operations to Zegona Communications.
TikTok owner ByteDance would rather close the platform in the US before moving to divest its interest. The company stated the algorithms supporting the app are vital to it.
In a short statement on Chinese news portal Toutiao, ByteDance wrote foreign media reports it is exploring the sale of TikTok are untrue. “ByteDance has no plans to sell TikTok.” The sale would include key ByteDance algorithms and is highly unlikely.
The company will first pursue all legal options following US President Joe Biden's signing of legislation into law last week. TikTok generates a small share of ByteDance’s revenue so a closure would have minimum impact on its business. ByteDance founder Zhang Yiming last month said he opposed any sale of the company and was not looking for a buyer after US politicians advanced the legislation ultimately approved by President Biden.
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