Trump said he will make a decision on TikTok within the next 30 days. Who is planning to transfer the company to?
Trump is trying to resolve the issue with the company's work in America as soon as possible.
Trump is trying to resolve the issue with the company's work in America as soon as possible.
US President Donald Trump said he is in talks with several interested parties about a possible acquisition of TikTok. A final decision is expected to be made within the next 30 days.
"A lot of serious people are talking to me about the possibility of buying TikTok. I will make a decision, probably within the next 30 days. Congress gave 90 days. If we can save TikTok, I think that would be good," Trump said.
According to the publication, the Trump administration is working on a plan that involves attracting American investors and transferring data collection and software updates to Oracle.
Under the terms of the deal under discussion, ByteDance will retain a stake in the company, but data collection and software updates will be overseen by Oracle.
General Atlantic, Kohlberg Kravis Roberts (KKR), Sequoia Capital and Susquehanna International Group are also among the potential investors. However, the sources of the publication note that the terms of the deal “remain fluid, and the exact scope of the negotiations has not yet been determined.”
Other bidders for TikTok, including billionaire Frank McCourt's investment group and YouTube star Jimmy Donaldson (Mr. Beast), are reportedly not participating in negotiations with Oracle.
Recall that TikTok, which is used by 170 million people in the US, was temporarily blocked on January 19, 2025, after a law came into effect that required the app to be sold to ByteDance for national security reasons or banned.
US President Donald Trump then signed an executive order giving ByteDance another 75 days to work out a deal to change control of the company, as required by a law signed last year. As of the time Trump signed the executive order, ByteDance was not in talks with any potential buyer.
Also, during a speech at the White House, Donald Trump expressed his openness to the idea of billionaire Elon Musk acquiring the TikTok app.
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