The White House has sought to stop WeChat download sover alleged national security concerns. It remains operational following last-minute moves.
, Oracle will be TikTok's secure cloud provider and will a minority investor with a 12.5% stake. Walmart tentatively agreed to purchase a 7.5% stake in the short-form video social media app. TikTok's Chinese parent company ByteDance will own the remaining 80% of TikTok Global.
There was new confusion over the terms of the deal on Monday morning, however, when President Trump suggested ByteDance won't have any control over TikTok Global. "They will have nothing to do with it, and if they do we just won't make a deal," Trump said on Fox & Friends Monday morning. Washington has repeatedly warned against Beijing's alleged intellectual property threat, which China has denied.
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