TikTok and WeChat apps on a smartphone.

-

Mark Schiefelbein / AP / SIPA

The saga on TikTok's activities in the United States is close to an end.

The TikTok application, threatened with ban in the country in the name of national security, will be able to continue to be downloaded: Donald Trump gave the green light on Saturday to a project involving Oracle and Walmart.

“I gave my approval to the deal.

If they make it happen, so much the better.

If this is not the case, that will also be fine, ”said the president.

A future IPO

The company, a subsidiary of a Chinese group, confirmed shortly after preparing a project involving Oracle as a technology partner in the United States and Walmart as a business partner.

The agreement also provides that the two American companies can buy up to 20% of shares in TikTok before a future IPO.

Oracle said it would take 12.5%.

"We are pleased that the proposal by 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 spokesperson for the application. .

TikTok did not give details on Saturday on how the capital would be distributed but according to

Wall Street Journal

sources

, the agreement provides that 53% of the shares in total will be allocated to American companies and investors and 36% to Chinese investors.

“We are 100% confident in our ability to provide a highly secure environment for TikTok and to ensure the privacy of data for US TikTok users and users around the world,” commented Oracle CEO Safra Catz.

Some $ 5 billion for education

The project also provides for the hiring of 25,000 people in the United States and the maintenance of the headquarters of the company in the country.

The companies involved will also make "a donation of about $ 5 billion" for "the education of young Americans," said the American president who had insisted that the government be paid for having authorized the agreement.

If it materializes, such an outcome could make it possible to extinguish one of the many fires currently smoldering between Washington and Beijing.

It will also allow Americans to continue using this application, which is very popular with young people: "In view of recent positive developments", the Commerce Department has announced that it is deferring at least until September 27 the ban on downloading TikTok in the United States which was to come into force on Sunday.

The app has some 100 million users in the United States.

World

Beijing takes action against foreign companies, targets Washington

High-Tech

Instagram may soon charge for links in posts

  • China

  • Video

  • Donald trump

  • Oracle

  • Social networks

  • TikTok

  • High-Tech