Trump says he’s not yet ready to sign off on a TikTok deal as his administration reportedly pushes for majority US ownership (MSFT, ORCL, WMT)

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Trump administration officials are pushing for potential US buyers to own a majority share of TikTok as part of a sale the president has pushed for, The Wall Street Journal reported Wednesday.

The Journal reported Tuesday that ByteDance, TikTok’s Chinese-based parent company, had sought to keep its controlling share of the social media app in a deal it pitched to US officials this week.

But that proposal didn’t satisfy the administration, according to Wednesday’s report, which said that US Treasury Secretary Steve Mnuchin and other officials are angling for American investors to own well north of 50% of

Read more    Source: businessinsider.com

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