Tik Tok Ownership Gets Shifted To Oracle And Walmart; Trump Doesn’t Want Chineses Involvement: Tik Tok is one of the most-used apps among youngsters of any country. Millions and millions of Tik Tok videos are worldwide. Hence it is the most discussed topic after its ban in several countries. But Trump doesn’t want any service from china in the matter of the Tik Tok Deal.
Trump’s Statement Regarding Tik Tok Deal
Trump is very sure that the new Tik Tok Global will not have Chinese investors, and it would be entirely to Oracle. While asked on television on Monday Mr Trump said that the Chinese firm would “have nothing to do with it, and if they do, we just won’t make the deal.” He adds Oracle would have full control or else we are not doing the deal
There was already a delay from the commerce department to ban Tik Tok in the US app store. If the deal doesn’t satisfy Trump’s concerns, then Tik Tok cannot be downloaded at any part in the country.
Tik Tok’s Spokesperson’s Statement
He said that ByteDance would hold 80 per cent of the new company until a planned public offering for the service takes place in the US. Oracle and Walmart will share the rest 20 per cent. ByteDance also refused to share of Tik Tok’s algorithm in the deal, which will be a threat to national security concerns.
But Oracle refused any such description on the deal. On Monday Ken Glueck, an executive at the company said in a statement that upon:
“creation of TikTok Global, Oracle/Walmart would make their investment and the TikTok Global shares will be distributed to their owners, Americans will be the majority and ByteDance will have no ownership in TikTok Global.”
Beijing Will Not Approve The Deal
“Based on what I know, Beijing won’t approve a current agreement between ByteDance, TikTok’s parent company, and Oracle, Walmart, because the agreement would endanger China’s national security, interests and dignity,” Mr Hu wrote. According to ByteDance, Oracle could merely be able to monitor the source code for security purposes. But cannot have the Tik Tok’s algorithm.
Well, the Tik Tok lovers would only want the deal to be agreed. Because then only they can start using Tik Tok freely again. Let’s wait and see.