President Donald Trump has given his personal approval to a proposal by Sa Reckel to invest in ticket ok, which has moved the whole saga closer to one step.
The president told reporters this afternoon that he approved the deal “conceptually,” according to Bloomberg News.
“I’ve blessed this deal,” Trump said. “I validated this deal in concept.”
Late last Sunday the once-dark horse emerged as the winner in a complex and deeply unusual bidding process for Oracle Ticket OK when the popular video-sharing app was declared a threat to national security by the White House.
Bloomberg reports that the transaction will leave most of Ticket OK’s assets and ownership algorithms in the hands of parent company ByteDance, with Oracle and other US investors taking a minority stake in the newly formed Ticket OK Global.
Trump first said in August that he wanted the U.S. Treasury to get a cut of the transaction.
“We’ve set the date around September 1, the date we set for the exit of his business in the United States. But if someone, whether it’s Microsoft Microsoft Ft or someone else, buys it, it’ll be interesting,” Trump said. He told reporters at the time:
More than anything, I said a fairly significant portion of that price is going to come to the United States Treasury. Because we are making this deal possible. Right now, they have no rights, except we will give it to them. So if we are going to give them rights, they have to come, they have to come to this country. … “So it will close on September 15th, unless Micros or Ft or someone else is able to buy it, and no one can make a deal, the right deal, so The Treasury is really the Treasury, I guess you say, United States get a lot of money, a lot of money /
The federal government generally does not receive commissions or deductions from any mergers or acquisitions, except for any taxes that are due, which are paid to the Treasury as needed.
According to Bloomberg, the companies have agreed to donate billions of dollars to a Texas-based educational fund to meet this deadline. “They’re setting up a very large fund,” Trump said. “This is their contribution that I am seeking.”
The deal needs the approval of the Treasury Department and Chinese officials before it can proceed. It is not yet clear whether Trump’s “blessing” is enough to stop Ticket OK from kicking off Apple Pal and Google’s mobile app store tomorrow night.
Updated, 7:42 p.m. After Ars published our story for the first time, tickets were issued Statement Confirmation of some high-level details about the deal.
The company wrote, “We are pleased that the proposal of Ticket OK, Oracle and Walmart will address the security concerns of the US administration and resolve questions surrounding the future of Ticket OK in the United States.”
Tiktok added that Oracle will “become our trusted technology provider, responsible for hosting all user data in the US and protecting the computer systems associated with it.” “Both companies will participate in the Ticket OK Global Pre-IPO Financing Round in which they can hold up to 20% stake in the company.”
