The China-US deal for TikTok could take another month to work out

"TikTok might not finalize its deal to sell its US operations for at least another month. Sources tell CNBC's David Faber that the US and China might close on an agreement within the next 30 to 45 days, while Oracle will remain the app's cloud partner, allowing it to continue routing US user data on American servers. On Monday, Treasury Secretary Scott Bessent told reporters that the US and China have reached a "framework deal" for TikTok."

"TikTok's future in the US became shrouded in uncertainty after the federal government passed the Protecting Americans from Foreign Adversary Controlled Applications Act, which mandates that TikTok must divest from its Chinese parent company, ByteDance, or face a ban in the US due to national security concerns. On Tuesday, The Information reported that the US and China have reached an agreement on the "licensing of TikTok's algorithms and other intellectual property rights.""

TikTok may not finalize a sale of its US operations for at least another month. The US and China might close on an agreement within 30 to 45 days, while Oracle will remain the app's cloud partner, allowing US user data to be routed on American servers. A framework deal between the US and China has been reached, with presidential confirmation expected on Friday, two days after the divestiture deadline. Federal law mandates divestment from ByteDance or a US ban due to national security concerns. Reported terms include licensing of algorithms and possible investor control, with a relatively small, private purchase likely.

Read at The Verge