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The soap opera of the United States vs. TikTok is far from over. After ByteDance rejected Microsoft’s proposal and Oracle led the race to buy the app, the US government wants future buyers to own the majority of TikTok.
According to The Wall Street Journal, ByteDance will have made a proposal to the Trump Administration to retain control of the largest “slice” of TikTok. However, the Chinese company’s intentions did not please the government, which is now pressuring US investors to own more than 50% of the company that will run TikTok.
As the new September 20 deadline approaches, Donald Trump is hinting that the conditions for signing any kind of agreement are not yet met. At a recent press conference at the White House, the US president said that he did not agree with ByteDance’s proposal.
“I am receiving studies on the agreement,” said Donald Trump, stressing that at the national security level everything must be aligned 100%. “I am not prepared to sign it. I have to see the deal, ”said the president, who revealed that he could ban TikTok in the United States starting next weekend if ByteDance did not comply with the established rules.
Earlier this week, Oracle will have submitted its proposed offer for TikTok to the US government. However, the Administration is reticent and believes that national security concerns still exist.
According to sources accessed by Bloomberg, there is a possibility that ByteDance will continue to have access to the data of nearly 100 million US users even after the acquisition. All data would be stored by Oracle in the United States, however all the technology behind TikTok, including the algorithms that determine which videos are presented to users, would still be in the hands of ByteDance.
On the other hand, ByteDance says that China will have to approve the agreement proposed by Oracle for the purchase of TikTok, Reuters reports. It is recalled that at the end of August, the Chinese government introduced a new law that imposes restrictions on the export of technology, including one that is based on “data analysis for personalized recommendations in information services.”
