Trump's comment adds confusion to the TikTok deal

Trump's comment adds confusion to the TikTok deal

A number of United States firms were in the running to acquire TikTok's operations, but after rejecting Microsoft's approach, ByteDance revealed its partnership deal with Oracle and Walmart.

Oracle and Walmart Inc, which have agreed to take stakes in TikTok Global of 12.5 percent and 7.5 percent respectively, have said the majority ownership of TikTok would be in American hands and that most of TikTok Global's board members would be United States nationals.

ByteDance, the TikTok's owner, suffered from Sunday Shutdown's orders due to President Trump's security interests.

On September 20, 2020, Larry Dingnin presented a report on the topic Cloud, according to which Oracle and Walmart have made a deal and have saved TikTok's U.S. footprints.

The unidentified author of the Global Times editorial objected to there being only one board seat reserved for a Chinese national, as well as the stipulated inclusion on the board of a US-approved "national security director".

Chinese state-backed Global Times in a report on Monday said that "Trump's new threats will unlikely go unchecked in China".

"It is clear that these articles [terms] extensively show Washington's bullying style and hooligan logic. They hurt China's national security, interests and dignity", said the English-language version of the editorial published late on Monday, which was also carried in the newspaper's Chinese-language edition.

On Monday, President Trump told Fox News that he won't approve the deal unless Oracle and Walmart have "total control" of the company.

However, the deal now appears to have been complicated following the on-going tussle between ByteDance and Oracle over the ownership of TikTok Global.

Gov. Greg Abbott has signaled that the welcome mat is out for TikTok in Texas, tweeting, "Today I talked to @realDonaldTrump about the @tiktok_us deal".

TikTok has 100 million users in the USA, and WeChat was downloaded 29,000 times in the country.

That vow, repeated by the president on Saturday at a campaign rally in North Carolina, was part of a concession that dealmakers offered to convince President Trump to green-light a transaction in which a new board comprised of USA citizens would oversee a new US -based company and co-owned by Oracle Corp and Walmart.

"As TikTok and Douyin should have the same source code, this means the USA can get to know the operations of Douyin", the editorial continued. ByteDance, the parent of TikTok, already has about 1,000 US workers. In China, it was presented less as a takeover and more of a coming together of two companies who would work in partnership with each other.

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