‘Sale of TikTok to Oracle and Walmart will not take place for the time being.’
The forced sale of the American branch of video app TikTok to retail chain Walmart and software maker Oracle would be off the job.
US President Joe Biden’s administration is conducting a large-scale evaluation of the steps taken by his predecessor Donald Trump to mitigate the security risks posed by certain Chinese companies. The Wall Street Journal reports this based on insiders.
The Trump administration has bet heavily against companies that pose a security risk because they are too closely associated with the Chinese government or the country’s military. At ByteDance, TikTok’s parent company, the biggest objection was that all users’ data was stored in China.