Tencent's Battle With ByteDance Could Attract Antitrust Regulators
ByteDance, the Chinese tech giant that owns TikTok, recently sued its larger rival Tencent (OTC: TCEHY) over alleged antitrust violations. ByteDance says Tencent blocked users on its WeChat and QQ apps -- which host 1.21 billion and 617 million mobile monthly active users, respectively -- from accessing content from Douyin, the Chinese version of TikTok.
ByteDance claims Tencent is blocking Douyin to promote WeChat's own short video channels, and it's asking for 90 million yuan ($14 million) in damages. Let's see how ByteDance's lawsuit could cause headaches for Tencent, which is already being scrutinized by antitrust regulators in China.
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Source Fool.com
