A slimmed down deal for TikTok will ring in the ears of cross-border dealmakers. The ByteDance unit hopes to avoid a sale by forging a tech partnership with Oracle. It hardly amounts to the clean break from its Chinese owners that U.S. President Donald Trump demanded, which...
A person holds a smartphone as Tik Tok logo is displayed behind in this picture illustration taken November 7, 2019. REUTERS/Dado Ruvic/Illustration
The TikTok saga was already complicated when Trump in August ordered a ban of the U.S. unit and then a sale, rattling not only ByteDance but U.S.-based private investors Sequoia Capital and General Atlantic as well. Before then, ByteDance thought it had a deal to address what Trump considered national security concerns about data that American users fork over to the video-sharing network. It had lined up a deal to sell a minority stake in TikTok to Microsoft.
Over the weekend, ByteDance submitted a proposal to the Committee on Foreign Investment in the United States to approve this plan. Ellison’s firm may also take a minority stake in TikTok, which in effect mirrors the deal that Trump had rejected with Microsoft. CFIUS looked over the deal on Tuesday, according to people familiar with the matter.
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Trump says Oracle close to TikTok deal as ByteDance aims for majority ownershipPresident Donald Trump said on Tuesday he had heard Oracle Corp was very close to a deal over ByteDance's TikTok, even as sources said the Chinese company was seeking to keep majority ownership of the popular short video app.
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Trump says Oracle close to TikTok deal as ByteDance aims for majority ownershipPresident Donald Trump said on Tuesday he had heard Oracle Corp was very close to a deal over ByteDance's TikTok, even as sources said the Chinese company was seeking to keep majority ownership of the popular short video app.
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TikTok deal rings alarm on M&A reviewsThe ByteDance unit hopes to avoid a sale by partnering with Oracle. It hardly amounts to the clean break Donald Trump demanded. The politicking muddies the already challenging process for investments with foreign involvement. It makes cross-border deals that much more difficult.
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YouTube Launches TikTok Competitor in IndiaYouTube is entering the race to usurp TikTok&39;s dominance in the short-form video space with YouTube Shorts, a new tool that will allow users to record and upload 15-second videos straight from their mobile phones.
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We’re Heading Toward the Worst Possible Outcome on TikTokIt’s likely that the deal will enrich the Trump-allied firm Oracle without the upside of reduced Chinese influence that we were supposed to get.
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