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.
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