ByteDance has officially announced the completion of an agreement to establish the TikTok USDS Joint Venture LLC, which will allow the app to avoid a complete ban in the United States. The new structure will ensure that the data of 200 million American users is stored under the control of US investors, putting an end to a years-long confrontation over national security. This is reported by Reuters, writes UNN.
Details
Under the terms of the agreement, ByteDance will retain only 19.9% of the shares, while 80.1% will be transferred to American and global investors. Key players include cloud computing giant Oracle, the Silver Lake group, and Abu Dhabi-based investment firm MGX – each holding a 15% stake.
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Oracle will act as a technical guarantor, ensuring the security of algorithms and protection against external interference in the application's digital infrastructure.
Trump thanks Xi Jinping for cooperation
President Donald Trump, who previously actively advocated for the sale or ban of the service, welcomed the finalization of the agreements. He noted that TikTok will now belong to a "group of great American patriots." Trump also expressed gratitude to Chinese leader Xi Jinping for approving the deal, which allowed avoiding the forced closure of the popular platform, which, according to the president, significantly helped him during his election campaign.
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