Tag: TikTok

ByteDance mulls TikTok IPO to clinch U.S. agreement

(Reuters) — China’s ByteDance is planning a U.S. initial public offering of TikTok Global, the new company that will operate the popular short video app, should its proposed deal be cleared by the U.S. government, people familiar with the matter said on Thursday.

ByteDance is racing to clinch an agreement with the White House that will stave off a U.S. ban on TikTok that President Donald Trump has threatened could happen as early as next week.

Trump ordered ByteDance last month to divest TikTok amid U.S. concerns that the personal data of as many as 100 million Americans who use the app could be passed on to China’s Communist Party government.

On Wednesday, he reiterated he was opposed to ByteDance retaining majority ownership of TikTok.

The White House and ByteDance have agreed to a term sheet on some aspects of a deal, although Trump has not yet approved

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ByteDance plans TikTok IPO to win U.S. deal as deadline looms: sources

By David Shepardson, Stephen Nellis and Echo Wang

(Reuters) – China’s ByteDance is planning a U.S. initial public offering of TikTok Global, the new company that will operate the popular short video app, should its proposed deal be cleared by the U.S. government, people familiar with the matter said on Thursday.

ByteDance is racing to clinch an agreement with the White House that will stave off a U.S. ban on TikTok that President Donald Trump has threatened could happen as early as next week.

Trump ordered ByteDance last month to divest TikTok amid U.S. concerns that the personal data of as many as 100 million Americans who use the app could be passed on to China’s Communist Party government.

On Wednesday, he reiterated he was opposed to ByteDance retaining majority ownership of TikTok.

The White House and ByteDance have agreed to a term sheet on some aspects of a deal,

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Treasury, ByteDance, Oracle Agree To TikTok Transaction, But Trump Holds Veto Power

KEY POINTS

  • ByteDance and Oracle accepted Mnuchin’s revised terms of the deal
  • Trump can still reject the transaction
  • ByteDance would retain majority stake in TikTok

The U.S. Treasury Department, China’s Bytedance and Oracle Corp. (ORCL) have reached a tentative agreement on terms related to Oracle’s involvement in ByteDance’s video-sharing app TikTok.

Bloomberg reported that Treasury Secretary Steven Mnuchin sent revised terms of the deal to Bytedance late on Wednesday – which both ByteDance and Oracle accepted. The changes to the deal apparently relate to the satisfaction of the U.S. government’s concerns about national security in connection with the collection of data of the app’s American users.

White House Senior Adviser Jared Kushner is aware of the revised terms, Bloomberg noted, but it remains unclear if he is satisfied with them.

The White House had previously accused ByteDance of aggregating data on American users of the popular app and presumably sending

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TikTok Accepts Deal Revisions as Trump Prepares to Review Proposal

WASHINGTON — The Chinese company that owns TikTok has accepted the Trump administration’s changes to a deal designed to mitigate the White House’s concerns that the popular app poses a national security threat, two people with knowledge of the talks said.

The Treasury Department, which leads a group reviewing the deal for national security purposes, provided TikTok’s owner, ByteDance, with revisions to its proposal on Wednesday, one of the people said. Some of the revisions were intended to address how TikTok’s data and source code would be handled and secured, one of the people said. The two sides have agreed in principle, but are still discussing some technical details, the other person said.

The exact ownership structure of TikTok under the proposed deal is unclear. President Trump and some members of his administration have said ByteDance cannot retain a majority stake in TikTok if their concerns are to be satisfied.

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GOP warns Trump over TikTok deal

With help from Nancy Scola, John Hendel, Steven Overly and Leah Nylen

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— Republican blowback: Ahead of administration officials’ briefing with President Donald Trump this morning on the TikTok-Oracle deal, several of his allies in Congress have denounced the proposed partnership with the American tech giant.

— How the Insta-pause played in Menlo Park: A Facebook exec chides the day-long boycott by Kim Kardashian and other celebs for lacking focus.

— Grab the popcorn, turn on the telecom: House Energy and Commerce lawmakers hold an FCC oversight hearing today — with all five of the agency’s

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Trump administration reportedly looking at Tencent’s investments after scrutinizing TikTok

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Epic Games is owned in part by Tencent, which is now under scrutiny.


Angela Lang/CNET

First it was ByteDance’s TikTok. Now, Tencent Holdings is said to be coming under scrutiny by the Trump administration.

The Committee on Foreign Investment in the US sent letters to companies Tencent has invested in, including Fortnite maker Epic Games and League of Legends developer Riot Games, asking about security protocols for American users’ data, according to a report in Bloomberg. CFIUS investigates national security concerns tied to foreign acquisitions or investments of US businesses.

The letters were sent as President Donald Trump is weighing whether to ban TikTok’s app from the US over similar national security claims.

Representatives at the White House, US Treasury Department, Tencent, Epic Games and Riot Games

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Oracle’s Bid for TikTok Is Down to the Wire and Also a Huge Mess

Oracle’s offices in Beijing.

Oracle’s offices in Beijing.
Photo: Nicolas Asfouri/AFP (Getty Images)

The Trump administration’s efforts to strong-arm Beijing-based ByteDance into selling its U.S. subsidiary TikTok to an American company are closing in, with enterprise software giant Oracle attempting to get regulators to clear a deal. Unsurprisingly, everyone involved is really making a garbage fire out of it.

The White House, claiming that TikTok’s owner poses a security threat because Chinese tech companies can’t be trusted not to spy on Americans, issued an executive order threatening to “ban” the app by Sept. 30 unless ByteDance gives up the goods to a U.S. firm. Oracle has since become the dark horse contender to get in on the wildly profitable app, beating out others like Microsoft and Walmart—rather cozily, as co-founder Larry Ellison is a major Trump fundraiser and CEO Safra Catz was on the admin’s 2016 transition team. (The company

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Trump not ready to OK TikTok deal, admits U.S. won’t get cut

President Donald Trump said he expects to get a report Thursday about Oracle’s bid for the Chinese-owned video-sharing app TikTok and admitted there is no legal path to letting the U.S. Treasury get a cut of the deal — a proposition experts had criticized as unprecedented and possibly illegal.

“I’m not prepared to sign off on anything. I have to see the deal,” Trump told White House reporters Wednesday evening about Oracle’s interest in TikTok.

Some in the U.S. have raised concerns about the deal, fearing that ByteDance, the Chinese company that owns TikTok, would maintain access to information on the 100 million TikTok users in the United States.

“It has to be 100 percent as far as national security is concerned,” Trump said.

The president previously said that he would ban TikTok if it wasn’t sold to an American company. In an Aug. 6 order, Trump said TikTok “reportedly

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Trump Casts New Doubt On Any Deal To Keep TikTok Alive In U.S. : NPR

Icons for the smartphone apps TikTok and WeChat are seen on a smartphone screen in Beijing. President Trump said he does not plan to support any deal to save TikTok in the U.S. that keeps China-based ByteDance as its majority owner.

Mark Schiefelbein/AP


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Mark Schiefelbein/AP

Icons for the smartphone apps TikTok and WeChat are seen on a smartphone screen in Beijing. President Trump said he does not plan to support any deal to save TikTok in the U.S. that keeps China-based ByteDance as its majority owner.

Mark Schiefelbein/AP

A plan to save popular video-sharing app TikTok in the U.S. is taking shape behind closed doors in Washington, though President Trump cast fresh doubt Wednesday that the deal as it stands would satisfy the White House.

The urgent talks are happening with only days to go before Trump’s executive order to shut down TikTok’s business in the

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Trump raises concerns over ByteDance’s role in possible TikTok deal

“I mean, just conceptually, I can tell you I don’t like that,” Trump told reporters. “So, if that’s the case, I’m not going to be happy with that. Assuming that ByteDance is China, which I think it probably is.”

Trump said he would be briefed on the deal Thursday morning and had only seen media reports about its terms. The Committee on Foreign Investment in the U.S., an inter-agency panel led by the Treasury Department, reviewed the proposal at its meeting Tuesday and is slated to make a recommendation to Trump this week.

“They’re giving me studies on the deal,” he said. “It has to be 100 percent as far as national security is concerned. And, no, I’m not prepared to sign off on anything. I have to see the deal.”

Republican allies in the Senate, including. Sens. Josh Hawley (R-Mo.), Ted Cruz (R-Texas) and Marco Rubio (R-Fla.) have pushed

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