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TikTok deal to include new investors with ByteDance; Oracle to keep cloud agreement: CNBC
The agreement restructures TikTok's US operations by adding new investors alongside ByteDance while Oracle continues managing cloud services, aiming to address regulatory concerns.
- US and Chinese officials reached an agreement on a framework to transfer TikTok's US operations to American companies during bilateral discussions held over the weekend in Spain.
- This agreement follows a US law passed last year requiring ByteDance to divest its US TikTok operations due to concerns over user data access by the Chinese government.
- The deal involves new and existing ByteDance investors, with Oracle keeping its role managing TikTok's data and software updates, and completion expected within 30 to 45 days.
- Economist Liang Yan indicated that the agreement might involve a revised ownership structure or permit the United States to license certain proprietary technologies, while Beijing could aim to obtain reductions in tariffs or easing of high-tech export restrictions.
- The framework deal aims to secure national security while enabling TikTok's continued US operations, with a confirming call planned on Friday between Presidents Trump and Xi Jinping.
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New York, Sep 16 (EFE).- The possible agreement between the United States and China will maintain the role of the Oracle company for cloud management and will include new investors within ByteDance, the matrix of the popular platform, according to the economic portal CNBC. The network points out that the agreement could be closed within 30 to 45 days. Treasury Secretary Scott Bessent was optimistic about the bilateral agreement: in statements to…
Coverage Details
Total News Sources10
Leaning Left2Leaning Right0Center5Last UpdatedBias Distribution71% Center
Bias Distribution
- 71% of the sources are Center
71% Center
L 29%
C 71%
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