Author: Kanishka Singh

Washington (Reuters) – US President’s administration Donald Trump is working on a plan to save Tiktok, which includes the exploit of the Oracle programming company (Nyse 🙂 and groups of external investors to effectively take control of global application operations, the National Public Radio said on Saturday.

Pursuant to the agreement negotiated by the White House, the Chinese owner of Tiktok, Bytedance, will retain the minority package of shares in the company, but the application algorithm, data collection and software updates will be supervised by Oracle, which is already the basis of the Tiktok network infrastructure, the NP.

The NPR report cites information about two people with knowledge about conversations. The White House and the Oracle did not issue immediate commentary.

The application for tiny videos, which is used by 170 million Americans, has been temporarily excluded for users shortly before entering into force on January 19, the law that the Chinese owner of Bytedance must sell it for national security reasons or be banned.

Trump, after taking office a day later, signed an executive order to delay 75 days of enforcement of law introduced after American officials warned that there is a risk of improper exploit of American data as part of Bytedance.

Any transaction announced by NPR would mean that American investors would have a majority packet of shares in the thicket. However, the report added that the terms of the contract may change and are still being developed.

“Oracle’s goal is to effectively monitor and supervise what is happening to the tiktok,” said NPR person directly involved in conversations, but unauthorized to speak in public.

“Bytedance would not disappear completely, but would minimize Chinese property.”

Other potential investors involved in conversations are Microsoft (NASDAQ :), NPR reports.

Oracle and White House officials had a meeting on a potential transaction on Friday, and the next meeting was scheduled for the next week, according to NPR.

Oracle was interested in Tiktok packages “counted in tens of billions”, but the rest of the contract is in the change phase, according to NPR report, citing the source.

Trump said that “he would like the United States to have 50% shares in a joint venture” in Tiktok.

NPR refers to another source, which claims that calming down the Congress is perceived by the White House as a key obstacle.

Proponents of freedom of speech opposed the ban on Tiktok under the Act adopted by the US Congress and signed by former President Joe Biden.

The company claims that American officials incorrectly presented its connections with China, arguing that its mechanism of content recommendation and user data is stored in the United States on the servers in the cloud served by Oracle, while decisions regarding the moderation of content that affect American users, They are also taken in the USA