ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintSite TitleTitle ChevronIcon Twitter
Business deals

Trump to receive report on Oracle TikTok deal Thursday

President told 'no legal path' to ensure money for the government

U.S. President Donald Trump speaks to the press on Wednesday at the White House.   © Reuters

WASHINGTON (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."

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Try 1 month for $0.99

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends July 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media