Trump eyes TikTok shakeup: Oracle-led deal nears as M2 app prepares for US launch, report says
While TikTok hasn't officially commented on the new app or the sale talks, reports suggest that a group of US-based investors, led by Oracle, is close to reaching a deal to acquire TikTok's US operations. Under this plan, ByteDance would still hold a minority stake, while the majority control would shift to non-Chinese entities, satisfying the conditions laid out under the new Protecting Americans from Foreign Adversary Controlled Applications Act.It's not the first time such a deal has been proposed. An earlier attempt to spin off TikTok's American business was shelved after China raised objections, especially following the Trump administration's decision to impose steep tariffs on Chinese goods. With geopolitical tensions still in play, any new agreement will require approval from the Chinese government — something that could delay or derail the process.In the meantime, ByteDance seems to be preparing a backup strategy. The new M2 app would offer the same experience but under a different operational structure, making it compliant with new legal requirements. According to reports, when M2 launches, the original TikTok app would eventually be removed from US app stores. The switch is being planned in a way that ensures users are not immediately cut off, but they will eventually have to download and move to the new version.advertisementAdding to this development, the Wall Street Journal reported that Oracle has signed a unique agreement with the US federal government, offering significant discounts on its cloud software. This move could give Oracle added leverage in the TikTok deal, especially as cloud infrastructure will likely be central to the app's operations post-sale.Despite the looming deadlines and political back-and-forth, TikTok has only been briefly unavailable in the US — a one-day shutdown earlier this year. But with time running out and pressure mounting, ByteDance appears to be moving swiftly to stay in the market through restructuring and technical adjustments.- Ends
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16 minutes ago
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Rubio Heads to Malaysia for Summit Under Shadow of Tariffs
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29 minutes ago
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Time of India
32 minutes ago
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