Franklin Pierce
Well-Known Member
- Joined
- May 4, 2014
- Messages
- 27,419
- Likes
- 31,549
TikTok deal with Oracle, Walmart reportedly put on hold under Biden
TikTok’s planned sale to American investors is unlikely to close any time soon as the Biden administration weighs whether to push the deal forward, a new report says.
A group of investors led by Oracle and Walmart announced plans to buy TikTok’s US operations last year after then-President Donald Trump ordered the video-sharing app’s Chinese parent company, ByteDance, to sell them.
But President Biden’s administration has put the plans on hold while it reviews its own approach to the cybersecurity risks posed by Chinese-owned apps, The Wall Street Journal reported Wednesday.
https://nypost.com/2021/02/10/tiktok-deal-with-oracle-put-on-hold-under-biden-report/
TikTok’s planned sale to American investors is unlikely to close any time soon as the Biden administration weighs whether to push the deal forward, a new report says.
A group of investors led by Oracle and Walmart announced plans to buy TikTok’s US operations last year after then-President Donald Trump ordered the video-sharing app’s Chinese parent company, ByteDance, to sell them.
But President Biden’s administration has put the plans on hold while it reviews its own approach to the cybersecurity risks posed by Chinese-owned apps, The Wall Street Journal reported Wednesday.
https://nypost.com/2021/02/10/tiktok-deal-with-oracle-put-on-hold-under-biden-report/