The math doesn’t add up on TikTok’s deal with Oracle and Walmart


Even as Oracle and Walmart stress American ownership, though, ByteDance’s statements have shown that the company may not be inclined to relinquish control over TikTok Global to its American investors. — Reuters

The TikTok sale saga reached an apparent conclusion over the weekend when President Donald Trump approved a deal. The agreement would allow Oracle Corp and Walmart Inc to buy a minority stake in a new joint entity, called TikTok Global. “I have given the deal my blessing,” Trump said.

But the harmony was short-lived. Just one day after Trump promised “no Chinese involvement”, TikTok owner Beijing-based ByteDance Ltd said it would retain 80% control over the new company.

Subscribe to The Star Yearly Premium Plan for 30% off

Cancel anytime. Ad-free. Full access to Web and App.

Monthly Plan

RM 13.90/month

RM 9.73/month

Billed as RM 9.73 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.39/month

RM 8.63/month

Billed as RM 103.60 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Others Also Read


Want to listen to full audio?

Unlock unlimited access to enjoy personalise features on the TheStar.com.my

Already a member? Log In