Deals
The Math Doesn’t Add Up on TikTok’s Deal With Oracle and Walmart
- Demands from Trump have yet to be met by proposed agreement
- Analysts puzzle: “You can’t have 80% and 0% at the same time.”
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The TikTok sale saga reached an apparent conclusion over the weekend when President Donald Trump approved a deal. The agreement would allow Oracle Corp. and Walmart Inc. to buy a minority stake in a new joint entity, called TikTok Global. “I have given the deal my blessing,” Trump said.
But the harmony was short-lived. Just one day after Trump promised “no Chinese involvement,” TikTok owner Beijing-based ByteDance Ltd. said it would retain 80% control over the new company.