Trump preparing decision on TikTok

US President Donald Trump provided an update on negotiations concerning the future of the popular social media network TikTok. He assured that a final decision will be made within the next 30 days.

What is known about the negotiations

Trump’s team is actively working with a number of investors who are seeking to take control of TikTok’s operations within the United States. According to Reuters, interest in acquiring the social network among American investors is "very high".

Oracle’s role

Sources report that a key part of the deal under discussion involves the Chinese company ByteDance, which owns TikTok, retaining a stake in the project. However, the collection of user data and software updates would be overseen by Oracle, which already services TikTok’s technical infrastructure.

Despite rumours of ties with Oracle, Trump denied reports of personal negotiations with Larry Ellison, the company’s chairman of the board.

"Нет, с Oracle я пока не обсуждал. Однако многие солидные люди обращаются ко мне с этим вопросом. Мы планируем принять решение в течение следующих 30 дней. Если нам удастся сохранить TikTok, это будет положительный результат" ("No, I have not discussed it with Oracle yet. However, many reputable people are approaching me on this issue. We plan to make a decision within the next 30 days. If we can keep TikTok, that will be a positive outcome"), the White House chief noted.

Deal terms

According to sources, the full scope of the agreement is still under discussion. A potential deal could cover not only operations in the US but also in other countries.

Meanwhile, rumours that billionaire Frank McCourt or the famous YouTube blogger MrBeast (Jimmy Donaldson) were participating in the negotiations were denied.