Larry Ellison's Oracle is positioned as a leading contender to run TikTok as the Trump administration seeks a solution for the China-owned app amidst national security concerns. With a deadline pushed to April 5, negotiations are ongoing following ByteDance's failure to meet an earlier deadline. ByteDance desires Oracle's partnership, having previously served as its cloud provider, yet aims to retain a stake in TikTok, conflicting with Congress mandates. Trump's involvement includes considerations for Oracle or Microsoft in acquisition talks, reflecting escalating tensions over TikTok's operations in the U.S.
"ByteDance wants to keep a stake in TikTok's operations post-deal, despite congressional requirements for a full sale, complicating the acquisition process amidst security concerns."
"Trump has extended the deadline for TikTok's sale amid ongoing negotiations, pushing back enforcement of Congress's ban on the app with alternative solutions being discussed."
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