Doubts emerged on Monday about Oracle’s deal to take over TikTok as US President Donald Trump said he may still renege on his approval and the Chinese government signalled reluctance.
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US President Donald Trump said he supported a deal in principle that would allow TikTok to continue to operate in the US, even as it appeared to conflict with his earlier order for China’s ByteDance to divest the video app.
US President Donald Trump told Oracle’s Larry Ellison and Walmart’s Doug McMillon that he still wants the government to receive a payment as part of a deal for the US operations of TikTok.
The US commerce department issued order on Friday that will bar people in the US from downloading Chinese-owned messaging app WeChat and video-sharing app TikTok.
China’s ByteDance is planning a US initial public offering of TikTok Global, the new company that will operate the popular short-video app, should its proposed deal be cleared by the US government
US President Donald Trump raised questions on Wednesday about plans by China’s ByteDance to keep a majority stake in the US operations of popular social media platform TikTok.
A senior Chinese official has accused the US, which forced the sale of TikTok on national security grounds, of “economic bullying”, while lambasting European Union restrictions on Huawei.
ByteDance founder and CEO Yiming Zhang’s decision to drop his pursuit of a sale of TikTok’s US operations to Microsoft in favour of a partnership with Oracle was the culmination of weeks of pressure.
Six weeks after announcing to the world it was in talks to buy TikTok, Microsoft comes out to tell us it didn’t get the gig. CEO Satya Nadella dodged a bullet. Now the gun is aimed directly at Oracle and its chairman, Larry Ellison.
ByteDance abandoned the sale of TikTok in the US on Sunday to pursue a partnership with Oracle that it hopes will spare it a US ban while appeasing China’s government, people familiar with the matter said.