(Reuters) - ByteDance, the Chinese owner of TikTok, is planning to buy back up to $6 billion worth of shares from existing investors at a valuation of about $400 billion, The Information reported on Thursday, citing a letter to shareholders and a person familiar with the plans.
Reuters could not immediately verify the report.
Digital platforms Meta (META.O) and TikTok joined Google on Wednesday in pushing back against proposed revisions to Indonesia's copyright law that would require digital platforms to pay publishers for displaying news content and set rules for AI.
If the bill is passed, Indonesia could become the first country in Southeast Asia to incorporate AI in its copyright law, as governments globally grapple with the impact of the technology on copyright rules, including the use of work created by humans to train AI models.