“I can say that I have given the deal my blessing,” Trump told reporters before departing for North Carolina. “If they get it done, that’s great. If they don’t, that’s okay, too.”
Trump later added that he had “approved the deal in concept.”
The deal would give Oracle oversight of TikTok’s U.S. user data to satisfy government national security concerns stemming from TikTok’s Chinese parent company, ByteDance. But the deal is a big step back from the full sale of the app that Trump was initially pushing.
ByteDance would be likely to keep a big stake in a newly created TikTok entity, but U.S. firms including Oracle and Walmart would also invest. The deal would create a new TikTok Global entity that would be headquartered in the United States.
“We are pleased that the proposal by TikTok, Oracle, and Walmart will resolve the security concerns of the US Administration and