TikTok owner in spotlight for 2017 Musical.ly deal

JOEL SAGET / AFP

TikTok's owner could be in hot water.

The firm that owns the Chinese video-sharing service is being subject to a national security review over the purchase of the Musical.ly app.

ByteDance purchased the app for AED 3.6 billion in 2017. 

According to reports, the deal is being investigated as it had allegedly not been cleared by a US body that scrutinises acquisitions.

More from Business

Coming Up on Dubai Eye

  • The Business Breakfast

    6:00am - 11:00am

    The Business Breakfast is the day’s must listen for the UAE’s business leaders, and those who aspire to be.

  • Lunch with Lloyd

    11:00am - 2:00pm

    No one knows entertainment better than veteran Dubai broadcaster Mark Lloyd.

BUSINESS BREAKFAST LATEST

On Dubai Eye

  • Meet Gift, female food delivery driver

    Gift came here from Nigeria and failed to find a job, until a pizza company offered her one. She's now one of the very few female delivery drivers in the UAE.

  • FARMER'S KITCHEN

    Farmer's Kitchen is back for 2021!
    With our partners Spinneys, we are going to help you wave goodbye to boring dinners, cluttered fridges, and lumpy leftovers!