The deal under discussion details the negotiation the White House held with ByteDance, the Chinese owner of the social media company. ByteDance would still have a stake in the company. However, Oracle, which already provides the foundation of TikTok’s infrastructure, would oversee the software updates.
Yet, in his comments to the reporters, Trump said that he had not spoken about buying the app with Larry Ellison from Oracle. Trump also answered when asked if he is putting together a deal with Oracle and other additional investors to save TikTok, Trump said "No, not with Oracle. Numerous people are talking to me, very substantial people, about buying it and I will make that decision probably over the next 30 days. Congress has given 90 days. If we can save TikTok, I think it would be a good thing.".
It is also worth mentioning that the sources said that the terms of any potential deal with Oracle are fluid and could change. Other sources talked about the purpose of the discussion and that it was not yet set and could even include the U.S. operations also adding up to other regions.
The National Public Radio also reported on Saturday that the deal talks for TikTok’s global operations, mentioning two people with insights from the negotiation. Sources also said that the deal negotiations anticipate the participation of some of ByteDance’s current U.S. investors such as General Atlantic, Kohlberg Kravis, and Jeff Yass's Susquehanna International Group.
This deal also creates for Oracle the opportunity of great responsibility regarding national security issues.
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