Oracle Corp Very Close to Strike a Deal with ByteDance
The US President’s comments came 24 hours after US officials affirmed that Oracle was all set to make a deal with ByteDance ahead of a deadline set by Donald Trump, who has declared the app threat to national security. During a conference, Trump told reporters, However, the details of the deal are not clear yet. According to the report of Financial Times, ByteDance was to place TikTok’s global operations in a new US-headquartered company with Oracle taking part as a minority shareholder in addition to other US investors. On the other hand, CNBC reported the US authorities could approve the deal later. The TikTok deal adventure has seen several twists, with Microsoft seen initially on the driving seat before its bid was rejected. Chinese authorities have told that they would not let ByteDance to trade the algorithms used by TikTok which are said to hold much of the value for the famous video sharing platform. Check out? TikTok owner ByteDance declines Microsoft’s offer
