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Trump approves TikTok deal, judge blocks WeChat ban

The deal edges US control to over 50%.

Staff Writers
1 minute read
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Millions of US TikTok users can breathe a sigh of relief, at least for a while. Photo: Pexels
Millions of US TikTok users can breathe a sigh of relief, at least for a while. Photo: Pexels

The White House has announced it has approved in principle a deal in which the social video network TikTok would sell a significant stake of its operations to Oracle and Walmart, according to media reports.

Under the agreement, Oracle would own 12.5% of the newly created TikTok Global while Walmart would own 7.5%.

The haggling began after President Donald Trump said he would ban the platform, owned by Chinese parent company ByteDance, over national security concerns.

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The deal falls short of full divestment, with ByteDance retaining majority ownership of TikTok Global.

However, in a twist, it appears US investors own a substantial stake in ByteDance.

Sources say the combined US stakes will surpass 50%, placing the new entity under de facto American control.

The decision has delayed a threatened ban on the app used by more than 100 million Americans set to begin yesterday.

Separately, a judge blocked a similar ban on WeChat while legal challenges were considered.

Millions of US users can breathe a sigh of relief, at least for a while.

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