Washington, United States:
US President Donald Trump said Tuesday that Silicon Valley tech giant Oracle is “very close” to becoming a US partner for the Chinese-owned video app Tickcock.
Trump’s remarks came a day after confirmation by US officials that Oracle was ready to strike a deal with parent BiteDance ahead of the deadline set by the US president, calling the app a national security threat .
“I heard they are very close to a deal,” Trump told reporters, “We’re going to make a decision soon” on whether to approve the tie-up, making Oracle a “reliable technology provider” Will give. For TikTok.
The details of the deal remained unclear. But the Financial Times reported that Bydtance was to invest Tektok’s global business in a US-headquartered company with Oracle as another minority shareholder.
CNBC reported that the Trump administration could approve the deal as soon as Tuesday afternoon.
If the transaction occurs, it will avoid the outright sale of Tiktok, giving a stake in Oracle’s popular app, whose founder, Larry Ellison, is a prominent Trump supporter.
Trump told reporters on Tuesday that he “has a high regard for Larry Ellison.”
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