The Chinese company ByteDance is forced to look for a buyer for the American assets associated with the activities of TikTok, the deal must be concluded before November, or “close the shop” US President Donald Trump has publicly endorsed Oracle’s purchase of TikTok’s US assets, although Oracle has yet to announce its intentions in this area.
Trump’s reaction to rumors of talks between Oracle and ByteDance was expected. Oracle founder Larry Ellison openly supports Donald Trump, while the incumbent American president called the head of the corporation “amazing guy” in his recent comments. “Oracle is the company that could handle this, ” – Donald Trump described the possibility of buying TikTok assets.
Meanwhile, the US President refused to participate in talks with the Chinese side on the first phase of the trade agreement between the countries, which were scheduled for this coming Thursday. According to Trump, he does not want to deal with a country that “did it with the world”, referring to the consequences of the spread of coronavirus infection. In any case, the negotiation process will have to be temporarily stopped.
According to Bloomberg, the political motivation in the deal between Oracle and ByteDance is not decisive. TikTok has at least a hundred million users in the United States, Oracle could host their data in its cloud storage, providing them with a vast user base. Oracle has long been trying to find ways to monetize the user data it has access to outside of the corporate marketplace. Oracle recently refrained from acquisitions, but now the company has free funds in the amount of $ 43 billion, which can be used to buy TikTok assets in the United States.
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