The Oracle technological company is part of a business consortium that would allow Tiktok to continue operations in the United States if a transaction Between the United States and China to take over the social media company is finalized, the sources knowing the Tell CBS News negotiations.
The precise structure of the final agreement was not clear on Monday evening, but will include several companies, according to sources. It is not clear what level of involvement Chinese companies – including the current parent company of Tiktok, Bytedance – will have in the agreement, and which will control the powerful recommendation algorithm of Tiktok. Trump and Xi presidents are expected to speak on Friday.
The agreement includes a mixture of new investors, including Silver Lake, a California-based capital-investment company and existing investors, according to sources.
Trump Tuesday morning refused to say which companies buy Tiktok, but said they would announce this soon.
“”We have a group of very large companies who want to buy it, “said Trump.” And, you know, the children wanted him so badly. I had parents who called me. They don’t want them for themselves. They want it for their children. They say that if I don’t do it, they have big trouble with their children. “”
Oracle refused to comment. A Tiktok spokesperson refused to comment. A Silver Lake spokesperson did not immediately respond to a comment request.
The Chinese Embassy in Washington replied Tuesday morning that China “would firmly defend its national interests, the legitimate rights and interests of Chinese companies and will carry out the approvals of technological exports according to the relevant laws and regulations”.
The press release continued that the Chinese government “also fully respects the will of companies and supports them in the realization of commercial negotiations on an equal footing in accordance with the principles of the market”.
The Treasury Secretary, Scott Bessent, said in Madrid on Monday after meetings with Chinese officials on a series of questions, including Tiktok, that the commercial conditions had been agreed.
Oracle – The technology company co -founded by billionaire Larry Ellison – has long been considered a possible buyer if the US government has forced a sale of Tiktok. Trump described Ellison as a friend. (The son of Larry Ellison, David Ellison, is the president and chief executive officer of Paramount Skydance, who is the parent company of CBS. The Ellison family has a controlling interest in Paramount Skydance.)
In 2020, Mr. Trump concluded an agreement This would see Oracle and Walmart taking a 20% stake in a United States-based entity called Tiktok Global. And in recent years, when Tiktok has sought to regain confidence with American users and regulators, he has teamed up with Oracle to transport the activity of US Tiktok users via Texas -based company servers.
Trump was a circumspect about an agreement with journalists from the Oval Office on Monday. “We can let him die, or we can, I don’t know, it depends. Until China. It doesn’t matter too much. I would like to do it for children. They love it.”
Last year, the Congress adopted, then the president of Joe Biden signed a bill which mainly gave the parent company in China of Tiktok, Bytedance, an ultimatum: either disinvesting of Tiktok or Face a ban in the United States The Supreme Court confirmed the law in a unanimous decision 9-0. But Mr. Trump issued a series of orders by unilaterally delaying his application. The last one came in June, when he postponed the deadline to apply the measure until Wednesday.
The President’s orders ordered the Ministry of Justice not to act or impose penalties on technological companies such as Asapple and Google not to comply with the law by offering the Tiktok application on their platforms.
The Tiktok’s divestment law was adopted in 2024 after years of bipartite concern about the possible national security risks posed by the ultra -popular video application. These include the concerns that the Chinese government can force Byédance to disclose information on users based in the United States or to manipulate the platform algorithm to control what Americans see. Tiktok has long denied that the Chinese authorities exerts any influence on the platform.
The concerns date back to Mr. Trump’s first term. The president Signed an executive decree to ban Tiktok In the United States, in 2020 for reasons of national security and data confidentiality, but this decision was blocked by a judge. Four years later, Mr. Trump changed his point of view and Expressed support For the application, which he credited for his improvement in performance among young voters in last year’s elections.
Caitlin Yilek and Melissa Quinn contributed to this report.
