The president of the United States, Donald Trump, threatened not to approve the agreement reached between Oracle and Walmart with China’s ByteDance on TikTok, if US companies do not have “total control” over the resulting partnership.
Asked in an interview on Fox News about the confusion of the last hours regarding the presence of ByteDance in the new company TikTok Global, which will be created to run TikTok’s business in the US, Trump said he hopes the Chinese firm will completely disengage.
Threat to ByteDance
“(ByteDance) will not have any link (with the new company), and if they do we will not approve the agreement,” said Trump, who also noted that if Oracle y Walmart They “do not have full control” over TikTok Global, nor will they give their consent.
The Government of the USA announced last Saturday that it was delaying the application of measures against TikTok for a week, which was scheduled to take effect on September 20, after Trump gave his “blessing” to the preliminary agreement with Oracle and Walmart so that it can operate in the country North American.
“I have given my blessing to the dealIf they succeed, it would be great and if not, it would also be fine, but it is a great agreement for the US, “said the president, who shortly after added that he approved the agreement” in concept “, but that negotiations were still continuing.
Confusions between partners
However, since then, Chinese and American parts They have given different versions of the agreement on how TikTok Global will be structured.
According to the version of Oracle and Walmart -which will control 20% of the future firm-, most of the new company will be US-owned, but according to ByteDance they will control the remaining 80% until it goes public with an initial public offering in about a year.