ByteDance Ltd: Susquehanna International Group to sell its Tiktok Shares

Susquehanna International Group is looking to sell about $500 million of its shares in the TikTok owner, seeking to diversify its portfolio during China’s tech crackdown and profit from the start-up’s growth. China launched a sweeping crackdown on its giant private sector a year ago, exerting control over everything from e-commerce to ride-hailing and online entertainment. While ByteDance — unlike peers such as Alibaba Group Holding Ltd. or Meituan — hasn’t become the target of any official probe, new rules in sensitive areas like algorithm recommendations. Is china scaring away investors ?