This company enters into negotiations for TikTok, whose owner, ByteDance, faces the end of the deadline given by the Trump Administration to divest its operations in the United States

Donald Trump supports Oracle's purchase of TikTok

EFE

Updated: 19/08/20 | 16:19

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U.S. President Donald Trump has shown his support for Oracle's purchase of the Chinese video sharing application TikTok's operations in the U.S.

Thus, Oracle enters the negotiations for TikTok, whose owner, ByteDance, faces the end of the deadline given by the Trump Administration to divest its operations in the United States.

Oracle, a giant in the business software sector, has held preliminary discussions on the possibility of partnering with some of ByteDance's current minority investors to buy TikTok's U.S. operations, but it is not clear how advanced those talks are, according to sources familiar with the issue consulted by EFE.

Microsoft said this month that it was negotiating with ByteDance and was coordinating with the White House. Twitter is also considering making an offer, The Wall Street Journal previously reported.

The Financial Times anticipated the involvement of Oracle, a company that has closer ties to the White House than most others interested in the process.

Larry Ellison, the company's co-founder, chairman and largest shareholder, held a fundraiser at his home for the president earlier this year. And CEO Safra Catz also served on the executive committee of Trump's 2016 transition team.

Asked on Tuesday if Oracle would be a good buyer for TikTok, Trump said, "Well, I think Oracle is a great company and I think the owner is a fabulous guy, a fabulous person. I think Oracle would certainly be someone who could take over."

The Trump Administration has said TikTok poses a threat to national security because it is owned by a Chinese company. ByteDance has repeatedly rejected U.S. accusations that it would share information about U.S. users with the Chinese government.

Oracle is working with Sequoia Capital and General Atlantic, investors who already have stakes in ByteDance, according to some of the sources.

Trump also reiterated Tuesday its condition that whoever buys TikTok must make a substantial payment to the U.S. government as part of the transaction.

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