REUTERS/Florence Lo

US must take full control of the company

US President Donald Trump said Monday that his administration will not approve the sale of TikTok to Oracle and Walmart if the current owner of the video service, China’s ByteDance, retains any control over the new US-headquartered TikTok Global.

REUTERS / Florence Lo

The fact is that a ByteDance statement appeared in the Chinese press today. In it, the company claims it will retain control of the social media app.

This contradicts Trump’s words on Saturday when the US authorities gave the go-ahead for the deal. Under its terms, Oracle and Walmart will receive a minority stake in TikTok Global. “It will be a completely new company. It will have nothing to do with any external territory, any external country, it will have nothing to do with China.“- Trump said.

Apparently, in connection with today’s ByteDance statement, Donald Trump decided to re-emphasize the main condition of the deal. “If we find that they (American companies) do not have full control, then we will not approve the transaction … We will monitor this very closely“Trump said in an interview with Fox News.

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