Reuters: TikTok shifts its activities to new joint ventures

The planned agreement on the TikTok platform stipulates that US activities will be transferred to new joint ventures involving domestic and international investors.

Oracle will be responsible for security monitoring of the algorithm and data and will have access to the software and its modifications, anonymous White House representatives told Reuters.

President Donald Trump plans to sign an executive order this week confirming that the agreement meets the requirements of the 2024 law on the sale of TikTok's American assets. Until then, he will extend the postponement of the ban on the Chinese platform in the United States.

Investors are said to include Oracle and Silver Lake, although the full list has not yet been finalized. According to sources, Washington is not seeking a stake in the company or control through a “golden share,” but is looking for investors who will add value.

The value of the agreement is estimated at “several billion dollars.”

(reuters, sab)