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TikTok Owner, ByteDance, Has Changed His Mind About Opening A Headquarters In The UK

TikTok Owner, ByteDance, Has Changed His Mind About Opening A Headquarters In The UK

The Chinese company ByteDance, which owns the video platform TikTok, has stopped negotiations with the British authorities to open a global headquarters in the UK and create 3 thousand jobs, The Sunday Times reports, citing a source.

According to the source, ByteDance had been in talks on this issue for several months with the Department of international trade and representatives of the UK government, but suspended them due to "the broader geopolitical context."

The source notes that ByteDance is ready to resume negotiations on establishing a headquarters in the UK if Beijing's relations with the West improve. However, in the foreseeable future, according to him, the decision should not be expected.

TikTok is a social network that allows users to create and share 60-second music videos, as well as exchange messages. Now the audience of the social network exceeds 700 million people worldwide.