TikTok will be sold in ’48 hours’ and Trump-backed Oracle is the ‘favored buyer with a $20billion cash and stock deal’ – as Microsoft and Walmart team up for their bid

  • TikTok’s US arm will be sold in the next 48 hours to either Oracle – owned by Trump donor Larry Ellison – or Microsoft
  • According to sources cited by The Wrap, Oracle’s offer is $10bn cash and $10bn in Oracle stock
  • Under their terms, 50% of TikTok profits will go back to ByteDance – their Chinese owner – for the next two years
  • Microsoft has teamed up with Walmart to strengthen its bid after ByteDance US investors questioned it
  • Trump set a November 12 deadline for the video app to be sold to a US company
  • He claimed that it was a national security risk so many Americans used the app when it was owned by a Chinese parent company
  • He previously endorsed Oracle as a buyer, calling it a ‘great company’
  • TikTok CEO Kevin Mayer stepped down, allegedly because he was cut out of the sale negotiations

TikTok will be sold within ‘coming days’ to either Microsoft and Walmart or Oracle, in a $20-30billion deal that comes three months before Trump’s deadline for the Chinese-owned video app to be sold to a US entity.

Both Microsoft and Oracle expressed interest in the app after Trump ordered ByteDance, the Chinese tech company that owns it, to sell it to a US entity or risk losing all its American customers.

He said it was a national security risk because it had access to more than 100million Americans’ data.

On Thursday it emerged that Microsoft and Walmart were teaming up in their bid. It came after fears among US investors in ByteDance questioned whether they’d have a place in a Microsoft sale.

The Wrap cited sources who said Oracle was the preferred buyer and that their offer – which has the backing of Trump – is $10billion in cash and $10billion in Oracle stock.

Half of TikTok’s profits will go back to ByteDance for two years, their sources said.

Larry Ellison, who owns Oracle, is a Trump donor. Trump backed Oracle as the buyer earlier this month, calling it a ‘great company’ and saying: ‘I think that Oracle would be certainly somebody that could handle it.’

In a statement announcing their partnership with Microsoft on Thursday, Walmart said it was eager to be involved in the app which has merged e-commerce with social media and video.

‘We believe a potential relationship with TikTok US in partnership with Microsoft could add this key functionality and provide Walmart with an important way for us to reach and serve omnichannel customers as well as grow our third-party marketplace and advertising businesses. ….

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I made my name because my hubs is a Locomotive Engineer on the Railroad for over 45  years now.  It’s funny how it fits right into the TRUMP TRAIN.  I am one of God’s many Children trying my best daily to live by God’s Word.  I have many hobbies on the computer and off the computer.  God Bless!

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