Sale of TikTok to Walmart and Oracle cooled after Trump’s departure
The exchange of Donald Trump for Joe Biden in the presidency of the United States slowed down the conversations between ByteDance, owner of TikTok, and Walmart and Oracle, which was interested in buying the app threatened to be banned from the country by the former POTUS Donald Trump.
The plan by Oracle and Walmart to buy TikTok operations in the United States has been postponed indefinitely, with President Joe Biden reviewing the previous government’s efforts to address the potential security risks posed by Chinese technology companies, Wall Street Journal reported this Wednesday.
Former President Donald Trump’s government cited national security concerns when acting against TikTok, arguing that personal data from U.S. users could be obtained by the Chinese government, while TikTok denies the claim.
Oracle and Walmart have yet to comment on the new developments officially, while TikTok remains on hold. Since the Donald Trump threat of banning, TikTok has become one of the most downloaded apps in the United States, and the expectation was to further leverage the numbers after the sale to Walmart.