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Company News

Trump says he will receive report on proposed Oracle TikTok deal Thursday

WASHINGTON, Sept 16 (Reuters) - U.S. President Donald Trump said on Wednesday he was not ready to sign off on a proposed deal involving Oracle Corp and ByteDance’s TikTok and that he would receive a report on it on Thursday.

Trump, at a news conference, said he was told there was no legal path to ensure money from the TikTok deal goes to the U.S. government. Under ByteDance’s proposal, the Beijing-based company would keep a majority stake in TikTok’s global business and create headquarters for TikTok in the United States.

“No, I’m not prepared to sign off on anything,” Trump said. “They going to be reporting to me tomorrow morning and I’ll let you know.” (Reporting By Alexandra Alper and Steve Holland Editing by Chris Reese)

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