Oracle chosen to take over TikTok’s US activities

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Posted on Sep 14, 2020 at 5:57 amUpdated Sep 14, 2020 6:37 PM

The suspense ended on Sunday night. According to several American media, Oracle was chosen by the Chinese company ByteDance to take over the American activities of TikTok. Microsoft, who had allied with Walmart , was not retained. The extent of this agreement remains uncertain, however: on the Chinese side, there is talk of a “privileged technological partnership” and not of a sale of the American activities of Tik Tok. And a source told the Wall Street Journal that the deal will not be “Probably not structured as an outright sale”.

The information was not confirmed by the stakeholders, but it was by Steven Mnuchin. On CNBC, the Treasury Secretary indicated that the deal was on Donald Trump’s desk. It provides for the creation of a company registered in the United States and the creation of 25,000 jobs. The committee for foreign investment in the United States is due to study the proposal this week and give its opinion to the American president.

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