Trump, Beijing hint at Oracle-TikTok deal block amid ownership confusion - Business Insider

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Trump and Beijing both hinted at blocking the Oracle-TikTok deal amid huge confusion about who will own the app

Drew Angerer/Getty Images; Zheng Shuai/VCG via Getty Images

ByteDance said in a statement Monday it would retain 80% control of the company, but Oracle later said "ByteDance will have no ownership in TikTok Global."President Trump and Beijing have both hinted they might block TikTok's financial tie-up with Oracle and Walmart, amid enormous confusion about the future ownership structure of the video app in the US.that he won't approve the deal unless Oracle and Walmart have "total control" of the company.

Asked about a final decision, Trump said: "That's working its way through. I've given a preliminary okay. They will work — they're two great companies — Oracle and Walmart. Larry Ellison [Oracle's cofounder] is a — you know, a great genius at that kind of thing. The technology is incredible."

 

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China better be owning it's own app 😴

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What TikTok’s U.S. deal means for its business in EuropeAssuming the Oracle deal goes through without any major objections from Beijing, what happens to TikTok in Europe? Soooo after all the grandstanding about tiktok.... Us companies will not have majority ownership.... No insight into source code.... And people who like spying on users for consumer behaviour (walmart CEO) will be on the board..... What a giant failMan facepalming TikTok will PikPok
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