Tim Hortons cooks up China cybersecurity recipe
A man walks past a store front poster advertising the opening of a cafe of the Canadian coffee and fast food chain Tim Hortons in Beijing, China, July 6, 2020. Picture taken July 6, 2020. REUTERS/Thomas Peter - RC2ZXH90YYBH
HONG KONG, Aug 25 (Reuters Breakingviews) - Tim Hortons is brewing a solution for the sticky Chinese data quandary, but the final mix is murky. Although a Canadian purveyor of coffee and doughnuts may not be an obvious trailblazer in this space, the matter is pressing because its mainland franchise, THIL, is due to list read more in New York via a special-purpose acquisition company. The idea is to establish a separate company to house personal information that would provide services to the parent on a “cost-only” basis.
China’s concerns surfaced just last month read more following Didi Global’s (DIDI.N) initial public offering, so THIL is starting from scratch. Whether its model can be repeated depends on the details. Who will own the so-called “NewCo” is unknown, but it won’t be THIL. The strength of the agreement also matters, as does who sets the costs and how they’re determined. Given how valuable an ingredient data is these days, Beijing and investors will be keen to know the recipe. (By Jennifer Hughes)
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Editing by Jeffrey Goldfarb and Katrina Hamlin
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