As a separate entity TikTok, the popular short-form video app, would file for an initial public offering on a U.S. stock exchange within a year after majority control is transferred from China's ByteDance to U.S.-based interests, including Oracle and potentially Walmart
LOS ANGELES: The complex wrangling over what happens next to TikTok -- which has become a geopolitical football punted around by the Trump administration -- continues apace.
As a separate entity TikTok, the popular short-form video app, would file for an initial public offering on a U.S. stock exchange within a year after majority control is transferred from China's ByteDance to U.S.-based interests, including Oracle and potentially Walmart, the Wall Street Journal reported. That, according to reports, would be a precondition for U.S. approval of any deal. Earlier this week Oracle confirmed it had reached a deal to be the "trusted technology provider" in the U.S. for TikTok. Under the agreement, Oracle -- led by pro-Trump chairman Larry Ellison -- would receive an equity stake in the company.
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