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US President Donald Trump has said that numerous companies are showing “great interest” in buying TikTok. Negotiations are ongoing, and a final decision is expected within the next 30 days.
On board Air Force One during a flight to Florida, Trump told reporters that he was discussing a possible deal with several stakeholders.
“There is a lot of interest in TikTok. I’ve talked to a lot of people about it. I think a decision will be made in the near future,” Trump said.
Negotiations and potential investors
According to Reuters, the Trump administration is working on a plan to bring TikTok’s data collection and software updates under the control of the US company Oracle. However, ByteDance, the current owner of TikTok, will be able to retain a stake in the company.
Among the potential investors that may participate in the purchase of TikTok are General Atlantic, Kohlberg Kravis Roberts (KKR), Sequoia Capital and Susquehanna International Group.
Trump also clarified that although the possibility of a deal with Oracle was previously discussed, he had not yet spoken to its founder Larry Ellison.
Security concerns
The decision on TikTok has become one of the main issues on the Trump administration’s agenda due to concerns about user data privacy and possible influence of the Chinese government. Congress gave the administration 90 days to resolve the issue, but Trump suggested that a decision could be made within a month.
“A lot of serious people are talking to me about the possibility of buying TikTok. If we can save TikTok and keep it safe, I think that would be good,” Trump added.
The terms of the deal are still being worked out, and the final format of the negotiations remains uncertain. At the same time, Trump stressed that any agreement must be in the interests of US national security.
