Stocks of suitors for Tiktok US slip as deal may need China nod

BENGALURU : Shares of TikTok U.S. suitors Microsoft Corp, Oracle Corp and Walmart Inc fell on Monday after China’s move to restrict some technology exports spurred worries Beijing might block any deal for the video app’s U.S. assets.

China’s new rules around tech exports mean ByteDance’s sale of TikTok U.S. operations could need approval from Beijing, a Chinese trade expert told state media on Sunday, a requirement that would complicate the forced and politically charged divestment.

Shares of Walmart, Microsoft and Oracle fell between 1% and 2.5% in morning trading.

All three pared some premarket losses after CNBC reported earlier in the day that TikTok has chosen a bidder and a deal could be announced as early as Tuesday.