The Sale Of Tik Tok To Oracle Has Been Postponed Indefinitely

The United States had given Chinese company Byte Dance until December 4, 2020, to sell the popular social media app TikTok, which passed quietly.

Despite the expiration of the deadline, the Trump administration has not banned tik-tok operations in the United States, nor has it issued a statement on what will happen next.

It now appears that the new president, Joe Biden, is in no hurry to shape the deal.

The Wall Street Journal said in a report that the sale of Tik Tok to Oracle and Wal-Mart has been put on hold indefinitely.

The report said that President Joe Biden would review previous efforts to address security threats to Chinese technology companies.

Officials said TikTok could be sold, but it could be on different terms, and TikTok might not have to sell its business.

According to reports, Tik Tok is still in talks with the CFIUS, a committee overseeing foreign investment in the United States.

The company also proposes to send the data to a trusted third party as an alternative to sales so that there is no fear that the Chinese government may obtain personal details of US citizens.

Former United States President Donald Trump has ordered the sale of TikTok, citing data security and algorithms.

He also demanded that a portion of Tik Tok's sales be deposited in the US treasury.

Which, of course, made the video an overnight sensation.

The U.S. government is expected to file a formal response to the Tik-Tok lawsuit on February 18.

Officials did not say what the government's position would be, but said it would reflect government policies.

In September, the US government announced that tik-tok talk would be banned in the United States from November 12, against which a US court had issued a restraining order.

But on November 12, the Commerce Department Committee on Foreign Investment (CFIUS) extended the tik-tok period by 15 days to 27 November.

But in the last week of November, the Committee on Foreign Investment (CFIUS) gave TikTok-owned company Byte Dance a week to sell U.S. operations for its application, which ended on December 4. ۔

Bite Dance signed an initial agreement with software company Oracle and retail company Wal-Mart in September to sell TikTok, but it has not yet been finalized.

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