TikTok suspends UK talks about opening global HQ in London: Report

Topics TikTok | ByteDance | China

TikTok was one of the 59 Chinese apps that India banned on June 29.
Beijing-based unicorn ByteDance, the parent company of short video-sharing app TikTok, has reportedly suspended talks about opening a global headquarters in London.

After months of negotiations with the UK's Department for International Trade and No 10 officials, ByteDance has halted the talks due to the "wider geopolitical context", according to a report in The Sunday Times, citing a source.

The news comes barely a week after the UK government announced a ban on the purchase of new Huawei kits for 5G from next year and said that the Chinese telecom giant's equipment will be completely removed from 5G networks by the end of 2027.

It is feared that the move could lead to strong reactions from China, threatening the start of a tit-for-tat trade war between the two countries.

TikTok is looking to open a new global headquarters for its business outside China after security experts flagged its data sharing practices and its alleged ties with the Chinese state.

The video-sharing platform has denied these allegations.

TikTok was one of the 59 Chinese apps that India banned on June 29. The Donald Trump administration in the US is also considering a ban on TikTok.

TikTok suspending the talks to open the London headquarters has also threatened the creation of 3,000 new jobs, in addition to the near 800 employed by the platform, The Guardian reported.


Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel