While ByteDance says it will continue to own 80% of the TikTok Global subsidiary, Oracle has said that the Chinese company won't have a direct stake in the business.US President Donald Trump has said that he won't approve the deal unless he is satisfied that Oracle and Walmart have"total control" over TikTok - and warned he is prepared to scrap it.
"If we can save it, we'll save it, and if we can't we'll cut if off," he told reporters."We have to have total security. That's the only thing, very important, we have to have total security." The US Commerce Department had proposed to ban all downloads of the TikTok app in the US from last Sunday, but this measure was delayed by one week to give the companies time to finalise the deal.
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