March 20, 2023
CNBC - Money Report
TikTok continues to face the threat of a U.S. ban by the Committee on Foreign Investment in the U.S. (CFIUS) if its Chinese parent ByteDance refuses to sell its stake.
Could CFIUS’s decision impact its requirements on third parties such as cloud hosting service Oracle; internet service providers like Comcast or Verizon; and app stores such as those controlled by Apple and Google?
In an article for CNBC’s Money Report, CFIUS Compliance Group Partner Shannon Reaves says any requirement on a third party would not come from CFIUS, which is tasked with evaluating foreign investments alone: "[t]here won't be action from CFIUS as a result of this review that will be taken against third parties that are not a part of this transaction. So your Apples and your Googles and so forth, that that will not happen."
Read the full article here.
March 20, 2023
CNBC - Money Report
TikTok continues to face the threat of a U.S. ban by the Committee on Foreign Investment in the U.S. (CFIUS) if its Chinese parent ByteDance refuses to sell its stake.
Could CFIUS’s decision impact its requirements on third parties such as cloud hosting service Oracle; internet service providers like Comcast or Verizon; and app stores such as those controlled by Apple and Google?
In an article for CNBC’s Money Report, CFIUS Compliance Group Partner Shannon Reaves says any requirement on a third party would not come from CFIUS, which is tasked with evaluating foreign investments alone: "[t]here won't be action from CFIUS as a result of this review that will be taken against third parties that are not a part of this transaction. So your Apples and your Googles and so forth, that that will not happen."
Read the full article here.
