Oracle, TikTok, and the Trump administration have reportedly 'tentatively' reached a deal. Here's everything we know about the partnership that could save TikTok from Trump's threats of a US ban.
Although the deal aims to address the US government's national-security concerns,at the deal to ensure China-headquartered ByteDance can't access the data belonging to TikTok's American users.
Instead of an outright deal, the Oracle-TikTok relationship would be more of a "partnership" without the "exchange of significant assets," The Wall Street Journal first reported.We don't know why ByteDance's deal with Microsoft, which seemed sure for weeks, fell apart. that investors were unhappy with the price Microsoft offered and that it upset ByteDance CEO Zhang Yiming by characterizing TikTok as a security concern that only it could fix.The Committee on Foreign Investment in the US — which reviews transactions between foreign and American companies and declared last month that ByteDance had to divest its US operations — was set to review the proposed deal this week.
If the committee approves the deal, President Donald Trump will have to sign off on the details. On Tuesday, Trump said he had "The Chinese government will also have to agree to the terms before the deal is official. The Financial Times reported that Chinese officials had already shown support for the Oracle deal, which appears to let ByteDance retain significant control.
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