a day agoUS-Kine agreement for TikTok could be signed this week
Periskopi(8 months ago)
(8 months ago)A TikTok agreement between China and the United States could be signed by Thursday, US President Donald Trump announced on the Air Force One board en route to Japan from Malaysia. The agreement, which will see new ownership of US app operations, is estimated to be 14 [...]
The agreement, which will see new ownership of US app operations, is estimated to be $14 billion.12 billion euros.
On Sunday, US Treasury Secretary Scott Bessent said on the show “Face the Nation” of CBS that an agreement for TikTok was finalised.
“We reached an agreement and believe that from today all details have been resolved and that will depend on the two leaders to complete that transaction Thursday in Korea”, he said.
Trump reportedly signed an executive order in September that paved the way for a possible US deal with most American investors, including Oracle Larry Ellison.
American and international investors would own about 65 per cent of the company.
ByteDance, TikTok's mother company, and Chinese investors would own less than 20 per cent of it.
The executive order also means that monitoring the TikTok algorithm will be given to new investors.
The algorithm is seen as important as determining what content users see on their feet.
