Trump rejects talks with Oracle for TikTok acquisition

Trump denies rumors of potential deal with Oracle for TikTok, stating that a decision will be made within 30 days after a 75-day extension on the platform's ban, while details on how to keep the company in the US remain unclear.

Rumors of a potential deal between Donald Trump and Oracle
Possible acquisition by a US investor group would allow TikTok to remain in the US
Trump has stated a decision will be made within the next 30 days

Rumors have been swirling recently about a potential deal between Donald Trump and Oracle, with the US entity buying a stake in TikTok along with other investors. However, the Trump administration has now denied these rumors, stating that while they have been in talks with “various entities” about a possible TikTok sale, nothing concrete has been revealed.

According to Reuters, Trump has stated that a decision on the matter will be made within the next 30 days, following a 75-day extension on the social media platform’s ban. The rumors began circulating late last week when NPR reported that sources close to Trump had been in contact with Oracle and several investors regarding a potential TikTok acquisition. This would allow the company to remain in the US and continue providing its services.

Under this rumored deal, ByteDance, TikTok’s parent company, would still have a stake in the business, but it would be a small portion compared to the majority held by the US investor group. Microsoft was also initially linked to the acquisition talks, either as a potential buyer or investor, but it seems that idea may not be entirely accurate.

It’s worth noting that prior to the January 19 ban, ByteDance had been reluctant to sell part of TikTok’s operations and remained steadfast in its stance, which ultimately led to the ban lasting only 14 hours.

Despite Trump’s statements about wanting to keep the platform in the US, details on how this will be achieved remain unclear. There is currently no concrete plan for the sale of a portion of the company to a US entity. TikTok has also refrained from commenting on the situation.

So, while the fate of TikTok in the US hangs in the balance, it seems we’ll have to wait a little longer to see how this story unfolds. Will Oracle or another US entity swoop in to save the day? Or will TikTok find another way to secure its future on American soil? Only time will tell.

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Microsoft, founded by Bill Gates and Paul Allen in 1975 in Redmond, Washington, USA, is a technology giant known for its wide range of software products, including the Windows operating system, Office productivity suite, and cloud services like Azure. Microsoft also manufactures hardware, such as the Surface line of laptops and tablets, Xbox gaming consoles, and accessories.

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Oracle Corporation is a important American multinational technology company founded in 1977 and headquartered in Redwood City, California. It's one of the world's largest software and cloud computing companies, known for its enterprise software products and services. Oracle specializes in developing and providing database management systems, cloud solutions, software applications, and hardware infrastructure. Their flagship product, the Oracle Database, is widely used in businesses and organizations worldwide. Oracle also offers a range of cloud services, including Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS).