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“I believe that it will be a fantastic dealDonald Trump said, before addressing a campaign rally in North Carolina.
“I gave my approval to the deal. If they succeed, so much the better. If not, it will also be fine. “
The company, a subsidiary of the Chinese group ByteDance, confirmed shortly after that it was preparing a project that involves Oracle as a technology partner in the United States and Walmart as a business partner.
Oracle could buy 12.5% of TikTok’s shares before a future initial public offering and Walmart 7.5%.
According to a source close to the case, ByteDance would keep the rest of the capital. But since 40% of the Chinese company is owned by American investors, most of the app would eventually come under the American flag.
“We are pleased that TikTok, Oracle and Walmart Proposal Resolves Security Concerns Raised by US Administration and questions about the future of TikTok in the United States, “a company spokesman told AFP.
If it materializes, such an outcome could extinguish one of the many fires currently burning between Washington and Beijing. You can also allow Americans to continue using this application, which is very popular with young people.
“In view of recent positive developments,” The Commerce Department has announced that it will postpone the ban on downloading TikTok until at least September 27, a measure that was due to take effect on Sunday.
What will happen to Oracle and what to Walmart?
Trump has been claiming for weeks that TikTok is spying on behalf of Beijing, without having made any evidence public.
In the name of national security, in early August, Trump issued a decree giving ByteDance until September 20, that is, this Sunday, to transfer TikTok activities on US soil to a company “made in the USA.”
The application, which allows you to broadcast short videos, often musical or humorous, has about 100 million users in the United States.
Trump estimated that with the agreement between TikTok, Oracle and Walmart, “security will be 100%“And that companies will use” separate servers. “
TikTok clarified that Oracle would be in charge of hosting all the data of the US users and the security of associated computer systems.
“We are 100% confident in our ability to provide a highly secure environment for TikTok and to ensure the privacy of TikTok users in the United States and users around the world,” Oracle Director Safra Catz said in a statement.
Walmart, on your side, would provide its online sales, order management and payment services, while its CEO, Doug McMillon, would become one of five members of the board of directors.
The agreement also provides hiring 25,000 people in the United States and the maintenance of the company’s headquarters in the country.
The companies involved will also do “a donation of about $ 5 billion ”to“ the education of young Americans“Said the Republican president, who had insisted that the government be paid for having authorized the agreement.
On Friday, the Trump administration announced that it would prevent the download of TikTok in the United States from this Sunday, as well as WeChat, an application of the Chinese giant Tencent used for messaging, shopping, payments and other services, with about 19 million users on American soil.
This is how China’s response has been
China reacted vigorously on Saturday by denouncing the “intimidation” of the United States and establishing a mechanism that would allow it to restrict the activities of foreign companies.
A list of “untrustworthy entities”, which includes foreign companies whose names have not been made public, concentrates possible sanctions ranging from fines to restricting activities or the entry of equipment and personnel into China.
Its entry into force is seen as a response to a similar list established by Washington to exclude Chinese telecoms giant Huawei from the US market and then attack TikTok and WeChat applications.
Negotiations for the management of TikTok activities in the United States had been stalled for several weeks.
A first project involving Microsoft and the distribution giant Walmart was rejected by China last weekend, leaving the field open to Oracle.
A national security committee of the United States government was commissioned to review the offer that is on the table.
Republican lawmakers have warned about the approval of a deal that would put the company under Chinese control.
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