By David Shepardson
WASHINGTON (Reuters) - U.S. investors and companies, including Oracle Corp, are set to hold at least a 60% stake in TikTok's U.S. operations, a person briefed on the matter told Reuters, a move that could help ease concerns raised about the deal by U.S. President Donald Trump.
The U.S. Treasury submitted a revised term sheet to ByteDance late Wednesday to address national security concerns that was agreed to by the Chinese parent of TikTok, the source said.
The new company, dubbed TikTok Global, will have a majority of American directors, a U.S. chief executive and a security expert on the board. Oracle has agreed to take a 20% stake in the company when it is created and Walmart Inc is also expected to take an equity stake and have a seat on TikTok Global's board, the source said.
...
Read More on Datafloq
No comments:
Post a Comment