US President Donald Trump said Tuesday that Silicon Valley tech giant Oracle is “very close” to becoming a US partner for the Chinese-owned video app Tickcock.
Trump’s remarks came a day after confirmation by US officials Oracle Was prepared to make a deal with TIC Toc mother-father ByteDance Beyond the deadline set by the US President, who called the app a national security threat.
“I heard they are very close to a deal,” Trump told reporters, “We’re going to make a decision soon” on whether to approve the tie-up, making Oracle a “reliable technology provider” Will give. For TikTok.
The details of the deal remained unclear. But the financial times Reported That bitterness was to keep Tektok’s global business in a new US-headquartered company in which Oracle was investing as a minority shareholder, along with other minorities.
CNBC reported that the Trump administration may approve the deal later on Tuesday.
Many twists have been seen in the Tiktok saga. Microsoft Initially seen as a suitor before his bid was rejected.
Chinese officials have said that they will not allow ByteDans to sell the algorithm used by TicketLock, which is believed to have great value for the popular social platform.
Review still in progress
Tickcock said in a statement that “we have submitted a proposal to the Treasury Department, which we believe will resolve the administration’s security concerns” and allow the company to continue to be used by 100 million people in the US.
Daniel Ives of Weinbush Securities said the deal could be “a big strategic win” for Tiktok that would survive a shutdown.
“While US / China tensions continue over all aspects of the technology food chain, resolving this ticketlock and byteadance standoff and complex Rubik’s Cube political background is a relief for tech investors with Oracle in the winning circle,” a research by Baves Said in the note.
If the transaction occurs, it will avoid a one-time sale of Tickcock to stake in Oracle’s popular app, the founder of which Larry Ellison Is a prominent Trump supporter.
Trump told reporters on Tuesday that he “has a high regard for Larry Ellison.”
A national security panel meeting was expected to be held on Tuesday to review the plan.
Conservative Senator Josh Hawley of Missouri urged the panel to reject the deal until it makes a “clean break” from China.
“China’s oppressive intelligence laws, which allow the seizure of data from Chinese companies such as BiteDance when knocked out by the Chinese Communist Party, are still in force,” Hawley said in a letter to Treasury Secretary Steven Menuchin.
“And that’s why any corporate shell game that leaves TickTock in the hands of ByteDance will simply eliminate the core problem, putting American national interests and everyday users at serious risk.”
Other analysts said the deal appears doubtful because it would give Trump’s ally a popular social platform.
A tweet from Alex Stamos states that Oracle has taken over hosting without source code and that significant operational changes will not address any legitimate concerns about Tiktok and that the White House will accept such a deal. , A Stanford professor and former security executive Facebook And Yahoo.
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