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The US Authorities Received An Offer From Oracle For A Deal With TikTok

The US Authorities Received An Offer From Oracle For A Deal With TikTok

Oracle has submitted its proposal for a deal with TikTok in the US, which includes the creation of TikTok Global with headquarters in America, us Treasury Secretary Steven Mnuchin said.

"I confirm that we received an offer over the weekend that includes Oracle as a trusted technology partner. There is a promise to create a TikTok Global, a company headquartered in the United States, which will create 20 thousand new jobs. While I can't talk about all aspects of the proposal, we will consider it this week, after which we will prepare our recommendation for the President and will consider this issue with him," Mnuchin said on CNBC.

Earlier, Reuters reported that ByteDance on Sunday abandoned the sale of TikTok in the United States in favor of a partnership with Oracle. As part of the offer, Oracle will become a technology partner of ByteDance and take over the management of TikTok's us user data. At the same time, according to sources, Oracle is also in talks to get a stake in TikTok's US operations.

Oracle has confirmed that it is a participant in an offer to sell the TikTok business in the United States submitted by the Chinese company ByteDance to the United States Treasury Department, according to a copy of the company's statement on its website prnewswire.com.

"Oracle confirms the statement of the Minister (Finance Stephen) Mnuchin that it is part of a proposal submitted by ByteDance to the Treasury Department over the weekend, where Oracle acts as a trusted technology provider," the report said.

TikTok is an application for creating and viewing short videos, owned by the Chinese company ByteDance. Released in 2018, it has become a leader in the short video app segment in China and is gaining popularity around the world.

Earlier, US President Donald Trump signed Executive orders "on combating the threat of TikTok" and" on combating the threat of WeChat," in which he gave a deadline for stopping any transactions with ByteDance in the US jurisdiction. The US administration has accused TikTok of being able to transfer American data to Chinese authorities, which the app's owners deny.

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