One of the terms of the agreement is the American side control of the algorithm, which generates content recommendations for users.
The Tiktok US is estimated to be $ 14 billion after the transaction completed by Donald Trump’s administration, which opens ways to transfer control over the application of American companies. This agreement forced the bytedance of the Chinese company to reduce its control over the American unit of the platform. According to information from the White House, the main investors are Oracle, Silver Lake and the Sovereign MGX from Abu Dhabi. This has been reported by the Financial Times.
As the publication said, Trump said he discussed the issue with President China Xi Jinping and received permission for the implementation of the transaction. At the same time, negotiations are accompanied by opposition from China and criticizing the United States, where some politicians insist on a complete division of Tiktok along with the Chinese owner.
The transaction provides that Oracle will be responsible for monitoring the algorithms of Tiktok and protecting these American users. It is also a plan to participate in additional investors, including businessman Michael Dell and media magnate Rupert Murdok. Thanks to this structure, Tiktok US provides financial stability and the ability to stay in the US market.
Recently, United States President Donald Trump announced that the final circulation of the trade negotiations with China was “very good” and that it was on the Tiktok platform, which was in the United States for the ban.
As you know, Trump has postponed the ban on Tiktok three times, which should be entered into January’s strength according to Congress’ decision, which has been adopted for fear of the administrator’s relationship with the application to the Chinese authorities.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.