NEW YORK: Oracle is among a consortium of firms that will enable TikTok to continue operations in the United States if a framework deal between the United States and China is finalised, CBS News has reported.
Reuters could not immediately confirm the report.
The precise structure of the deal was not clear, the report said, adding that the deal will include multiple companies.
The White House, Oracle, TikTok and the Chinese Embassy in Washington did not immediately respond to Reuters’ requests for comments outside regular business hours.
US and Chinese officials said earlier that they had reached a framework agreement to switch TikTok to US-controlled ownership that will be confirmed in a Friday call between US President Donald Trump and his Chinese counterpart Xi Jinping.
After a meeting with Chinese negotiators in Madrid, US Treasury Secretary Scott Bessent said a Sept 17 deadline that could have disrupted the popular social media app in the United States encouraged Chinese negotiators to reach a potential deal.
He said that the deadline could be extended by 90 days to allow the deal to be finalised, but declined to discuss any specifics.
A potential deal for TikTok involving Oracle could require approval by the Republican-controlled Congress, which passed a law in 2024 requiring divestiture due to fears that TikTok’s US user data could be accessed by the Chinese government.
This would allow Beijing to spy on Americans or conduct influence operations through the app.
The popular short video social media app has 170 million US users. — Reuters
