Assian_Candor [comrade/them] to news • 2 months agoByteDance would rather shut down tiktok than sell itimagemessage-square127 fedilinkarrow-up1269file-text
arrow-up1269imageByteDance would rather shut down tiktok than sell itAssian_Candor [comrade/them] to news • 2 months agomessage-square127 Commentsfedilinkfile-text
https://www.reuters.com/technology/bytedance-prefers-tiktok-shutdown-us-if-legal-options-fail-sources-say-2024-04-25/
minus-squaresooper_dooper_roofer [none/use name]hexbear20·2 months agoIn addition to that: 60% of ownership is by global hedge funds so effectively half of bytedance is owned by westoids anyway link
minus-squareredtea@lemmygrad.mlhexbear11·2 months agoMight depend on whether that 60% has voting rights. linkfedilink
minus-squareAcidLeaves [he/him, he/him]hexbear20·2 months agoCPC has something called a golden share in a lot of companies. It's a 1% equity stake that allows for overruling voting power in certain elections link
minus-squareHexBroke [any, comrade/them]hexbear9·2 months agoIf you had a CPC rep on the board, you'd think you'd do what they suggested link
In addition to that:
so effectively half of bytedance is owned by westoids anyway
Might depend on whether that 60% has voting rights.
CPC has something called a golden share in a lot of companies. It's a 1% equity stake that allows for overruling voting power in certain elections
If you had a CPC rep on the board, you'd think you'd do what they suggested