President of the United States Donald Trump gave the green light for both TikTok and Oracle. The social media platform serving under ByteDance’s roof shook hands with Microsoft’s biggest competitor.
ByteDance has said that if this agreement is not approved, it will cease TikTok activities in the USA. For days it was said that Oracle had disabled Microsoft and was shaking hands with TikTok. The allegations came true!
Donald Trump gives green light to TikTok and Oracle duo
The President of the USA has previously underlined that if the TikTok brand is not purchased by Microsoft or another US company, it will impose an embargo on the TikTok team. Trump, who gave TikTok a deadline until September 15, 2020, stated that he was determined on this matter.
Speaking with journalists while leaving the White House, Trump announced that he approved this agreement. This process, which concerns about 100 million American citizens, seems to have finally been completed in a way that makes everyone happy.
Trump thinks the TikTok app will now be a secure software. For him, this agreement is conceptually very important. According to an information received, Oracle will own 20 percent of the TikTok company in terms of shares. This scenario will apply if Walmart is also involved in this process.
Because Walmart, one of the largest chain stores in the world, is also trying to buy shares from TikTok. Trump believes that the Chinese social media platform will follow the directions of the Walmart and Oracle duo.
The President of the USA has guaranteed that this triple formation will provide employment to 25 thousand people and contribute 5 million dollars to the USA. For the successful completion of this process, China must also ratify this agreement.
If approval comes from the Chinese front, TikTok users in the USA will take a deep breath. Trump emphasized that the new TikTok formation will not have any relationship with the East Asian country.