According to people familiar with the matter, Oracle Corp.’s bid for TikTok failed to address Trump administration officials’ concerns that China-owned video-sharing applications pose a threat to US national security.
President Donald Trump has the right to sign an agreement, but continued concerns from national security officials may influence his decision. People familiar with the matter said the agreement is still at the negotiating table, and discussions between administrative officials and the company continue. As the negotiations are confidential, the person who requested anonymity said.
People familiar with the matter said that addressing these remaining issues may pave the way for US approval.
People familiar with the matter said that officials including Secretary of State Michael Pompeo are concerned that after the potential transaction, TikTok’s Chinese owner ByteDance Ltd. may still access user data from its nearly 1
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