China's Kuaishou says state broadcaster has no veto on decisions

China's Kuaishou dismissed as untrue on Wednesday what it called "online rumours" that a state broadcaster would be able to veto its business decisions after having taken a stake in its Beijing unit. On Sunday, the Information reported the broadcaster's recent acquisition of an equity stake in Kuaishou's domestic business.

China's Kuaishou dismissed as untrue on Wednesday what it called "online rumours" that a state broadcaster would be able to veto its business decisions after having taken a stake in its Beijing unit. The short video platform said the state-owned broadcaster, the Beijing Radio and Television Station, had only taken an equity stake in one of its Chinese units and the deal did not affect the parent company.

The Beijing unit was cooperating with the broadcaster on content-related matters, it added. On Sunday, the Information reported the broadcaster's recent acquisition of an equity stake in Kuaishou's domestic business.