06 Jan US Rejects $1.2 Billion Deal with Tencent’s Ant Financial Over Rising Privacy Concerns
Chinese tech titans are now feeling the backlash of consumer concerns regarding privacy after a billion dollar deal between the US government and Tencent’s Ant Financial Services Group failed to materialize.
It is said that privacy and security questions are likely to hound the two of the biggest Chinese tech companies, Tencent Holdings and Alibaba Group Holdings, who will be participating in the CES trade show in Las Vegas this weekend.
However, Cheng of the Wuzhen Institute remarked that despite the uphill struggle, Chinese companies would not want to “miss the big party”, and that taking part in CES is a sign of going global.
Source: SCMP
