Jessica Goodfellow
Sep 21, 2020

US greenlights TikTok-Oracle deal; fate now lies with China

Under the arrangement that has been waved through by President Trump, ByteDance will create a new US-headquartered company called TikTok Global that will be majority owned by US investors.

ByteDance will retain an 80% stake in the new company with Oracle and retail giant Walmart predicted to own the remaining 20%

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