US President Donald Trump has said tech giant Oracle will be “a big company” to take over US operations from TikTok.

It comes after Oracle was named a potential buyer of the Chinese social media apps business in North America, Australia and New Zealand.

Last week, Mr. Trump ordered TikTok owner ByteDance to sell his business in the United States within 90 days or face closure.

Oracle President Larry Ellison is backing Mr. Trump and held a fundraiser for him in February.

Mr Trump’s comments – during a speech in Yuma, Ariz. – came after reports that Oracle was working on an offer for certain TikTok assets with a group of ByteDance investors.

Trump Announces Takeover of TikTok By Oracle in United States

According to these reports, Oracle was seriously considering buying out TikTok’s operations in the United States,. Canada, Australia and New Zealand with investment firms such as General Atlantic and Sequoia Capital.

In February, Oracle co-founder Larry Ellision hosted a high profile fundraiser for Mr. Trump at his private golf course and estate in California.

Earlier this month, Mr Trump said the government would have to get a “substantial portion” of the selling price of the US unit from TikTok if a US firm purchases it.

  • Donald Trump joins TikTok rival Triller
  • Twitter is “looking” for a possible link to TikTok
  • Trump calls on US to cut Microsoft TikTok deal

Where is TikTok currently in the United States?

Last week, the White House said that a government panel that examines foreign transactions. The Committee on Foreign Investments in the United States – recommended that ByteDance divest TikTok’s U.S. operations within 90 days.

Mr Trump said there was “credible evidence” that TikTok was being used by ByteDance to violate US security.

ByteDance repeatedly refused incorrect sharing of user data.

Washington’s attacks on TikTok have been viewed by many commentators as part of its ongoing trade dispute with Beijing.

Who are the rival bidders for TikTok?

Microsoft has been the main competitor to buy these TikTok companies since it publicly stated earlier this month that it has had discussions with ByteDance.

Rival social media company Twitter has also reportedly approached TikTok owner ByteDance to express interest in buying his business in the United States.

This year, the hugely popular short video sharing app reached 2 billion downloads worldwide. Meanwhile, Mr. Trump has joined his New York-based rival, Triller, TikTok.

LEAVE A REPLY

Please enter your comment!
Please enter your name here