The deal between TikTok and Oracle still needs approval of relevant authorities from both China and the US, TikTok’s owner ByteDance told the Global Times on Thursday.
ByteDance told media that the company is discussing with certain companies about cooperation plans so as to tackle concerns of the US government and the public about American users’ data security. The Chinese internet company said that plans under discussion don’t involve sales of its business or technology, while a final deal hasn’t been signed.
The response came as a lot of speculation and rumors emerged after the US Treasury Department’s Committee on Foreign Investment in the United States (CFIUS) launched a national security review on TikTok and US’ President Donald Trump issued an executive order requiring ByteDance to either sell or spin off TikTok.
