China says it doesn't accept TikTok deal with oracle

ByteDance Seeks Court Order Against Ban | PYMNTS.com

Last week everyone was clear that on Sunday it would no longer be possible to install TikTok in the United States, as the deadline given by President Trump would have ended, but in the last minutes, Oracle and Wallmart announced an agreement that had "the blessing" of the president so that TikTok was saved (along with WeChat).

Everything seemed perfect, it would create a new company called TikTok Global based in the United States, with a percentage of TikTok and another percentage of Oracle and Walmart. All that was missing was the OK of the Chinese government, and it hasn't.

The September 20 deadline has passed, and there is still no agreement with all signatures between ByteDance (TikTok), Oracle, and Walmart.

China says it is a "dirty" and "unfair" agreement that allows Oracle and Walmart to take over TikTok effectively based on "intimidation and extortion." This is reported in China Daily, an official English-language newspaper of the Chinese Communist Party.

Oracle Deal for TikTok in Doubt After Trump, China Remarks

As the medium comments:

[...] TikTok's success has apparently made Washington uncomfortable and they want to use national security as a pretext to ban the app from sharing short videos.
Beijing has already modified a set of export rules to complicate TikTok's possible agreement, restricting the sale of certain artificial intelligence technologies to foreign companies. The case is that ByteDance has said that the agreement will not involve technological transfers (there is any access to Artificial Intelligence algorithms), but it appears to be not enough.

TikTok-Oracle deal: No, majority ownership doesn't give 'total control' |  Business Standard News

TikTok has 100 million users in the country, and many of the world's largest Tiktokers are from there. If there can't be new users, they'll have to settle for the millions of existing followers, without many growth prospects.

It's hard to know how the story will end, but everything points to nothing being decided until there's a possible change of government in America.

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