#China unlikely to approve Oracle, Walmart’s TikTok deal: state media
“#China unlikely to approve Oracle, Walmart’s TikTok deal: state media”
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China’s state-run Global Times newspaper published an editorial late Monday saying the deal to keep the video-sharing app alive in America would “hurt China’s national security, interests and dignity.”
“From the information provided by the US, the deal was unfair,” the editorial reads. “It caters to the unreasonable demands of Washington. It’s hard for us to believe that Beijing will approve such an agreement.”
The deal between Walmart, Oracle and TikTok parent ByteDance must win approval from both China and the Trump administration, which has threatened to ban TikTok over concerns that Beijing could get hold of its user data. TikTok has denied those allegations.
The Global Times noted that the proposal would hand control of the app’s business to a new US-based entity called TikTok Global. The paper also complained about a provision allowing Oracle to review TikTok’s source code, saying it could give Americans insight into Douyin, the Chinese version of the app.
“It is clear that these [terms] extensively show Washington’s bullying style and hooligan logic,” the paper wrote. “… China, also a major country, will not yield to US intimidation and will not accept an unequal treaty that targets Chinese companies.”
The Global Times weighed in after ByteDance and California-based software giant Oracle issued conflicting statements about who would control the popular app with 100 million US users.
ByteDance claimed it would own 80 percent of TikTok Global, but Oracle said the Beijing-based tech giant would not have any ownership of the US-based company and that Americans would control four out of five board seats.
American investors would own 53 percent of the equity in TikTok Global, including a 20 percent combined stake to be held by Oracle and Walmart, a source familiar with the deal told The Post on Monday.
President Trump gave his “blessing” to the proposed deal over the weekend but said Monday that he would not approve it if ByteDance remained in control of TikTok.
Neither ByteDance nor the US Commerce Department immediately responded to requests for comment Tuesday morning.
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