Trump gives blessing to deal to allow TikTok to continue to operate in U.S.

By David Shepardson, Alexandra Alper and Echo Wang
WASHINGTON/NEW YORK (Reuters) - U.S. President Donald Trump said he supports a deal that will allow TikTok to continue to operate in the United States, after threatening to ban the Chinese-owned app in August.
He told reporters at the White House he backs the deal with TikTok owner ByteDance, Oracle <ORCL.N> and Walmart <WMT.N> to create a new company that will assume TikTok's U.S. operations called TikTok Global.
Trump said the new company will be "totally controlled by Oracle and Walmart ... All of the control is Oracle and Walmart."
U.S. shareholders are expected to control 53% of TikTok Global, a person briefed on the matter said, while Chinese investors will hold 36%.
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