Donald Trump looks back on the agreement in principle for this weekend with TikTok. He had validated the fact that the publisher Oracle and the giant of mass distribution, Walmart, take up 20% in the capital of the group ByteDance, owner of the Chinese application. The new entity, TikTok Global, was also to be majority-owned from the start. What ByteDance contests today.
Trump turn up the tone
The company said earlier this week on Chinese media that it would continue to hold 80% of TikTok until a possible IPO in 2021. The US president is therefore again demanding that ByteDance sell all of its shares. “And if we find that they don’t have full control, then we won’t approve the deal”, he said on the talk show Fox & Friends.
The threat of a TikTok ban from app stores is therefore once again relevant in the absence of a deal. It is also always possible that Beijing will intervene to block any arrangement.
Source: The New York Times