WhatsNew2Day - Latest News And Breaking Headlines
Take a fresh look at your lifestyle.

Oracle’s bid for Chinese-owned TikTok will not get approval, the report said

BREAKING NEWS: Oracle’s bid to serve as TikTok’s ‘trusted technology supplier’ in Chinese hands ‘falls short of addressing Trump’s national security concerns’

Oracle’s bid to buy TikTok from Chinese parent company ByteDance reportedly falls short of the Trump administration’s requirements to allay concerns that the video-sharing app represents a national security concern.

The proposed deal has sparked ongoing concerns from national security officials that could influence President Donald Trump’s decision, say people familiar with the deal Bloomberg News on Wednesday.

Oracle announced on Monday that it was part of a proposal Bytedance had submitted to the US Treasury Department to serve as a “ trusted technology vendor ” with Bytedance, without further details on the terms of the deal.

The Trump administration will soon make a decision on the proposed deal, White House press secretary Kayleigh McEnany said on Wednesday.

Oracle's bid to buy TikTok from Chinese parent company ByteDance reportedly fails to meet Trump administration's requirements to resolve national security concerns

Oracle’s bid to buy TikTok from Chinese parent company ByteDance reportedly fails to meet Trump administration’s requirements to resolve national security concerns

“We’ll be making a decision here soon,” said McEnany. “I don’t want to get ahead of the president, but of course we attach great importance to data protection and the security of American citizens.”

Marco Rubio and five other Republican senators have called on the Trump administration to reject the deal if ties to Chinese owner Bytedance continue.

Rubio, the first senator to call on the government to investigate TikTok over censorship concerns, said in the letter to Trump that there remained “ serious questions ” about Oracle’s role, the technology it would provide to Bytedance, and the future of the algorithm. the application.

“We remain against any deal that would allow China-based or controlled entities to maintain, monitor, or modify the code or algorithms that use a US-based version of TikTok,” Rubio wrote in Wednesday’s letter.

“ We are encouraged that this deal still requires government approval, and as reports indicate that this proposed deal will maintain ties with ByteDance or other China-controlled entities, we strongly urge the government to adopt such a deal. reject proposal on national security grounds, ‘he added.

The letter, also signed by Senators Thom Tillis, Rick Scott, John Cornyn, Roger Wicker, and Dan Sullivan, is part of a growing chorus of lawmakers questioning the deal.

Trump has also said he is a fan of Oracle co-founder and chairman Larry Ellison (above), one of the few tech executives who openly supports the Republican president

Trump has also said he is a fan of Oracle co-founder and chairman Larry Ellison (above), one of the few tech executives who openly supports the Republican president

Trump has also said he is a fan of Oracle co-founder and chairman Larry Ellison (above), one of the few tech executives who openly supports the Republican president

On Monday, Republican Senator Josh Hawley sent a letter to Treasury Secretary Steve Mnuchin, who heads a national security panel reviewing the proposal and calling for the deal to be scuttled if it does not see the “ full emancipation of TikTok ”. software of potential Chinese. Communist partial control. ‘

It is unclear what President Trump will do. White House adviser Jared Kushner said Tuesday that the White House is reviewing Oracle’s offer and a senior administrative official said no decision had yet been made.

Trump had previously made it clear that he was seeking a full sale of the app to a US technology company amid concerns among national security officials that Bytedance could provide US user data to the Chinese government. But Trump may not want to alienate 100 million American TikTok users weeks before a hotly contested presidential election.

Trump has also said he is a fan of Oracle co-founder and chairman Larry Ellison, one of the few tech executives who openly supports the Republican president.

Meanwhile, China has updated its export control rules to give it control over the transfer of technology, such as TikTok’s recommendation algorithm, to a foreign buyer. Chinese officials have said ByteDance should not be forced into a deal by the United States.

Developing a story, more will follow.

Advertisement

.