President Trump on Friday announced That the Tiktok deal, which could possibly see the video platform controlled by a consortium of US investors, had been approved by China’s XI President Xi. Owner Tiktok byTedance also issued a public statement Saying the company will work to ensure that Tiktok “remains available to American users through Tiktok US”
No further details were offered about the agreement at the time.
The two countries are working in a way of saving Tiktok’s US companies, as Tiktok was banned in January for national security concerns. This ban has often been awaited by the Trump administration amid consumer and creator reactions against the removal of the application.
This week, Trump hinted at his social social media platform that an agreement had been reached and the buyer will be announced soon. A report by Wall Street Journal confirmed that investors such as Oracle, Silver Lake and Andreessen Horowitz, will hold 80% in the US entity Tiktokwith Chinese shareholders holding the rest. The Board of Directors of the new company will also come largely from the US, with a member of the Board of Directors appointed by the US government itself.
“The call was very good, we will talk again by phone, we appreciate Tiktok’s approval,” Trump noted of the truth of his social account on Friday, saying that one of the objects addressed during the call was the approval of the deal.
On Tiktok’s websiteThe company shared a statement attributed to a representative of ByTedance saying: “We thank President Xi Jinping and President Donald J. Trump for their efforts to keep Tiktok in the United States.
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