An agreement in sight between TikTok and the Americans Walmart and Oracle
The future is brightening up for the TikTok video sharing app.
MARTIN BUREAU / AFP
Text by: RFI Follow
3 min
Perhaps the epilogue of a long standoff in the TikTok file in the United States.
While sanctions targeting the Chinese application were to come into force this Sunday, President Trump and the application announced a draft agreement with the two American companies Oracle and Walmart.
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TikTok has confirmed statements by US President Donald Trump.
An agreement has been proposed for the company Oracle to be its technology partner in the United States and for the American retail giant Walmart to be its business partner.
The deal provides that the two American companies can buy up to 20% of shares in TikTok before a future IPO.
Ban postponed to at least September 27
"
We are pleased that the proposal from TikTok, Oracle and Walmart resolves the security concerns raised by the US administration and resolves questions regarding the future of TikTok in the United States,
" said a spokeswoman as the president. American had indicated earlier today that it had given the green light to the agreement.
The US Department of Commerce reacted quickly by announcing on Saturday that it was deferring at least until September 27 the ban on downloading the application in the United States among young people.
This decision was taken "
in view of recent positive developments,
" said a statement released shortly after TikTok confirmed a draft agreement.
Donald Trump satisfied with a future agreement
The US president says he personally gave the green light, reports our correspondent in New York,
Loubna Anaki
.
Without going into details, Donald Trump announced that Walmart and Oracle should take control of TikTok in the United States, thus breaking the link with Chinese company Byte Dance, the parent company of the application.
The president believed that Chinese authorities were using the app to spy on American users.
This ban had therefore been considered by the US government in the name of national security.
The American president is delighted with this draft agreement: “
It is a very good agreement for the United States.
It won't have anything to do with a foreign country anymore, nothing to do with China.
The security will be 100% guaranteed, they will use different and very very secure servers.
"
Donald Trump clarified that the TikTok name would remain the same, that the new company would be based in Texas.
He added that Oracle and Walmart would commit to donate $ 5 billion for education programs in the United States.
It also promises the creation of 25,000 jobs.
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