Never a good sign when Chinese media is touting and promoting the TikTok restructuring as a model for what should happen globally.

What's clear is that the US has bumbled its way into a precedent the consequences of which it hasn't anticipated. (h/t @EBKania for flagging!)

Chinese state media stating that the new TikTok Global will be 100% owned by Bytedance.

Seems to contradict what we know of the deal (80% Bytedance ownership).

Bottom line is that according to PRC, it will still have control over TikTok. What has been accomplished?

And Bytdance confirms this GT statement about no loss of owenrship. https://twitter.com/pingroma/status/1307887527685050368?s=20

Thanks to @ruima for flagging -- Bytedance/GT has clarified that the pre-IPO round will take its ownership down to 80%. This fascinating @lizalinwsj thread looks at the two different narratives that are taking shape in the US and China. https://twitter.com/lizalinwsj/status/1307935982541447169?s=20

Here's why this matters. https://twitter.com/LindsayPGorman/status/1307866055268855810?s=20