Published 19:58 IST, September 21st 2020
US President Trump says 'won't approve' TikTok deal if ByteDance retains control
Trump said that he would pull back his support from the ByteDance-owned TikTok and Oracle deal if the Chinese company retains control of US operations.
- World News
- 2 min read
The United States President Donald Trump on September 21 said that he would pull back his support from the ByteDance-owned TikTok and Oracle deal if the Chinese company retains control of the operation. Trump, during an interview with Fox News, said that if ByteDance controls the US operations of TikTok after the deal he would pull out his support.
Trump also indicated that the company would go public after the deal with Oracle is complete. "They (ByteDance) will have nothing to do with it, and if they do, we just won’t make the deal. It’s going to be controlled, totally controlled by Oracle, and I guess they’re going public and they’re buying out the rest of it, they’re buying out a lot, and if we find that they don’t have total control then we’re not going to approve the deal," Trump said during televised interview.
TikTok deal in US
The US government asked ByteDance to either divest TikTok's US operations or sell it to an American company. The company was in talks with several US firms to seal a deal and it finally settled with Oracle and Walmart to provide services in the US. The company will now stay in the US as it said, "We are pleased that the proposal by TikTok, Oracle, and Walmart will resolve the security concerns of the US Administration and settle questions around TikTok's future in the US."
Donald Trump had given a go-ahead to the agreement as he told reporters on September 19 that he has given his blessings to the deal. With the new deal, Trump said TikTok could now be based in Texas under Oracle and Walmart's control in the US.
Updated 19:57 IST, September 21st 2020