Weibo Corp. (WB) shares fell Wednesday as the Twitter (TWTR) equivalent debuted in the Hong Kong market, with the Hong Kong listing for the stock of Chinese short-messaging app perhaps clearing the way for a delisting of Weibo's shares in New York, something its parent Sina did earlier this year..WB
The stake gives Beijing a board seat at the subsidiary, which holds some of the business licenses covering Douyin and Toutiao.. Read more at straitstimes.com.
Beijing takes stakes in ByteDance and Weibo domestic entities cityam.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cityam.com Daily Mail and Mail on Sunday newspapers.
The Chinese government took a stake and a board seat in a key ByteDance entity this year - a move that raises questions over how much influence Beijing is planning to wield in a tech sector reeling under an onslaught of regulatory action.