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Donald Trump Doesn’t ‘Like’ The Idea Of The Oracle-TikTok Deal – Latest News

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To say that Bytedance-owned TikTok has had a rough few months would be an understatement. First, the Indian government banned TikTok in India. Then the TikTok CEO resigned and for a time US President Donald Trump kept the Chinese tech company on edge over a possible sale to an American company. Microsoft retracted a deal to buy TikTok’s US operations and Oracle was reported to be close to sealing. However, it now appears that even the Oracle deal could land in troubled waters, as Trump does not ‘like’ the concept.

A Bloomberg report stated that if Oracle bought TikTok, Bytedance would retain a majority stake in the operations, while the US company would be a minority shareholder. “Well, we are looking into that,” he said. “From ByteDance’s point of view, we don’t like that. I mean, I can only conceptually tell you that I don’t like that. They haven’t told me that yet, “Trump said, according to a CNBC report.

The president of the United States also said that the agreement must be “100% in regards to national security.” Trump said the deal looks close, but he’ll have to see it first before signing it.

The US government has set a tight deadline for TikTok to remain operational in the US Bytedance must announce a plan for sale in the US by September 20 or it will be banned on September 29. In addition, by November 12, the agreement would have to be finalized.

Microsoft was in the running before Oracle came in to nearly close the deal. In a blog post, Microsoft explained why the deal was not in their favor. “ByteDance let us know today that they would not sell TikTok’s US operations to Microsoft. We are confident that our proposal would have been good for TikTok users, while protecting national security interests. To do this, we would have made significant changes to ensure that the service met the highest standards of security, privacy, online safety, and the fight against disinformation, and we made these principles clear in our August statement. We look forward to seeing how service evolves in these important areas. ”

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