New plan
Oracle and US investors to take over TikTok
According to a report, US President Donald Trump's administration is working on a plan to save TikTok. The plan envisages the US software company Oracle and a group of US investors taking control of the video app's global operations.
This was reported by the public broadcaster National Public Radio (NPR), citing people familiar with the matter. As part of the transaction negotiated by the White House, the China-based owner of TikTok, ByteDance, would retain a minority stake in the company.
The app's algorithm, data collection and software updates, on the other hand, would be overseen by Oracle. TikTok and ByteDance are suspected of espionage due to their proximity to the Chinese government. The White House and Oracle initially declined to comment.
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