The twists and turns around Tiktok

Donald Trump: Buyer for Tiktok is ready

A deal for Tiktok is ready – the buyer will be announced shortly, Donald Trump said according to Reuters.

Trump said on Tuesday that the US and China have an agreement that allows the video app to operate in the US by transferring US assets from Chinese Bytedance to an American owner.

The new agreement will include new investors as well as existing investors in the parent company Bytedance, according to CNBC's sources.

As part of the agreement, the US IT giant Oracle will maintain its cloud agreement with Bytedance, according to the same sources.

There has been speculation in the media that Andreessen Horowitz, Oracle and Blackstone are interested in investing in Tiktok.

Sources: How the US will take control of Tiktok – it will become a new app

The US and China are negotiating a deal in which a consortium consisting of Oracle, venture capital firms Silver Lake and Andreessen Horowitz will take over 80 percent of the shares in Tiktok's American operations. The final fifth would be controlled by Chinese investors. This is according to information provided to the Wall Street Journal.

In addition, a board of directors with a majority of American members, as well as a representative appointed by the US government, is planned.

The restructuring is also expected to result in existing American users being transferred to a new app.

White House Extends Deadline to Complete Tiktok Deal

US President Donald Trump is extending the deadline for Tiktok's owner to sell its American operations to December 16. This is reported by AFP.

Technically, the president is continuing to postpone the application of a US law that would mean that Tiktok is banned from operating in the US.

The announcement comes despite Trump claiming during the day that the US and China have agreed on what the new ownership structure for Tiktok's American operations should look like.
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