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Oracle’s offer for China’s TikTok failed to gain approval, the report said



Oracle’s attempt to be China’s TikTok’s “trusted technology provider” “fails to address Trump’s national security concerns”

  • Trump’s national security advisers are reportedly still worried about the deal
  • Oracle offered something less than an outright acquisition of TikTok
  • China’s ByteDance offers Oracle a “trusted technology provider”
  • But several Republican senators rejected the proposal
  • China updates its export controls to ban TikTok algorithm from being sold abroad
  • If the deal fails to get approval, Trump has promised to ban TikTok in the United States

Oracle’s offer to buy TikTok from China’s parent ByteDance does not meet the Trump administration’s demands to address concerns that the video-sharing app is a national security concern.

The proposed deal raises ongoing concerns among national security officials who could influence President Donald Trump’s decision, people familiar with the deal told Bloomberg News on Wednesday.

Oracle announced on Monday that it was part of a proposal submitted by Bytedance to the US Treasury Department to be Bytedance’s “trusted technology provider” without providing further details on the terms of the deal.

The Trump administration will soon decide on the proposed deal, White House spokeswoman Kaylee McEnnany said on Wednesday.

Oracle's offer to buy TikTok from Chinese mother ByteDance does not meet Trump administration's requirements for solving national security problems

Oracle’s offer to buy TikTok from Chinese mother ByteDance does not meet Trump administration’s requirements for solving national security problems

“We will make a decision here shortly,” Makinani said. “I don’t want to get ahead of the president, but obviously we care a lot about data protection and the security of American citizens.”

Marco Rubio and five other Republican senators have called on the Trump administration to reject the deal if ties with Chinese owner Bytedance remain.

Rubio, the first senator to call on the administration to investigate TikTok’s censorship concerns, said in a letter to Trump that “serious questions” remain about Oracle’s role, the technology it will provide to Bytedance, and the future of the app’s algorithm.

“We continue to oppose any transaction that will allow China-based or controlled entities to maintain, control or modify the code or algorithms that operate any US-based version of TikTok,” Rubio wrote in a letter Wednesday.

“We have heard that this deal still requires government approval, and if reports indicating that the proposed deal will maintain links with ByteDance or other Chinese-controlled organizations, we urge the administration to reject such a proposal for reasons of national security,” he added. .

The letter, also signed by Senators Tom Tillis, Rick Scott, John Cornin, Roger Wicker and Dan Sullivan, is part of a growing chorus of lawmakers raising questions about the deal.

Republican Sen. Josh Hawley sent a letter Monday to Treasury Secretary Steve Mnuchin, who heads a national security committee that is considering the proposal, calling for the deal to be canceled if it does not allow “complete emancipation of TikTok software by potential Chinese.” .

It is unclear what President Trump will do. On Tuesday, White House adviser Jared Kushner said the White House was considering Oracle’s offer, and a senior administration official said no decision had been made yet.

Trump also said he was a fan of Oracle co-founder and chairman Larry Ellison

Oracle co-founder and chairman Larry Ellison

Trump also said he was a fan of Oracle co-founder and chairman Larry Ellison (right), one of the few technical leaders to openly support the Republican president.

Earlier, Trump made it clear that he was seeking a full-scale sale of the app to a US technology company, amid fears from national security officials that Bytedance could provide U.S. consumer data to the Chinese government.

However, Trump may not want to alienate 100 million American TikTok users weeks before the hotly contested presidential election.

Trump also said he was a fan of Oracle co-founder and chairman Larry Ellison, one of the few technical leaders to openly support the Republican president.

China, meanwhile, is updating its export control rules to give it the right to transfer technology, such as TikTok’s foreign buyer referral algorithm. Chinese officials have said ByteDance should not be forced by the United States to make a deal.

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