ByteDance has reached a preliminary “technical partnership” agreement with Oracle for TikTok’s US operations that does not include a full sale of the short video app, according to three people with knowledge of the matter.
As part of the deal, Oracle plans to address the national security concerns that the Trump administration has raised over the Chinese company’s ownership of TikTok, said one of the people.
The US technology group chaired by Larry Ellison, one of the few people in Silicon Valley who has publicly supported US President Donald Trump, is likely to own a minority stake in the US business.
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