TikTok’s Forced Sale To Oracle Shelved Indefinitely

The Wall Street Journal reports:

A U.S. plan to force the sale of TikTok’s American operations to a group including Oracle Corp.and Walmart Inc. has been shelved indefinitely, people familiar with the situation said, as President Biden undertakes a broad review of his predecessor’s efforts to address potential security risks from Chinese tech companies.

The TikTok deal—which had been driven by then-President Donald Trump—has languished since last fall in the midst of successful legal challenges to the U.S. government’s effort by TikTok’s owner, China’s ByteDance Ltd.

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A Trump-driven plan to force the sale of TikTok’s American operations to a group including Oracle and Walmart has been shelved pending a Biden review of efforts to address potential security risks from Chinese tech firms. https://t.co/pUx2yFGcxw

— Daniel Orton (@MisterOrton) February 10, 2021