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Oracle to buy Chinese company Tittock in US, Trump approves

Symbolic picture.

The danger of a ban on Ticketock in America has almost ended. US President Donald Trump has approved TikTok’s deal with Oracle.

  • News18
  • Last Updated:September 20, 2020, 4:36 PM IST

Washington. US President Donald Trump has approved US software company Oracle to buy China’s video sharing app company ByteDance. Trump told reporters on Sunday that Walmart would also participate in the deal. He will oversee the creation of a new company in the province of Texas. The US will operate Tiktok. He also said that the agreement will include a donation of five billion dollars for an education program. On Friday, Bytdance filed an indictment in the District Court of Columbia challenging the Trump administration’s blocking of TickTock in the US.

At the same time, China strongly opposed America’s move to stop the downloading of WeChat and the TicketLock app. He also warned to take retaliatory measures to protect the interests of Chinese companies. On Friday, the US issued an order to ban popular Chinese social media apps TikTok and WeChat in view of national security. A few weeks ago, India had also banned many of China’s apps for the sovereignty, integrity and security of the country. US President Donald Trump signed an order last month to ban TickTock and WeChat until September 15 if they did not own an American company. Reacting to the Trump government’s order banning TickTock and WeChat, the Commerce Ministry from China said on Saturday that China strongly opposes the move.

Also read: China, America warns after ban on TicTock-WeChat

Tiktok ban in IndiaIn the absence of any evidence, the US has repeatedly used the government’s power to suppress two enterprises for illegal reasons, which severely disrupted their normal business activities. The move has reduced the confidence of international investors in the American investment environment and has hurt normal global economic and trade activities. The ministry said that China is preparing to take retaliatory measures to protect the interests of its companies. However, the ministry did not elaborate on what kind of steps China is preparing to take. On June 29, India had announced a ban on China’s 59 apps, along with TicketLock and WeChat. Later, India expanded the scope of such apps and currently 224 apps in China are banned in India.

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