Oracle-TikTok Bid to Get National Security Finding Today
By Editor - Tue Sep 15, 4:49 pm
(Bloomberg) — A U.S. national security panel reviewing Oracle Corp.’s bid for TikTok was meeting Tuesday afternoon to decide whether to recommend the president approve or reject the deal, according to two people familiar with the matter.President Donald Trump said his staff are “very close to a deal” and will be making a decision whether to approve the agreement “soon,” speaking to reporters on the South Lawn of the White House.Trump praised Larry Ellison, Oracle’s chairman: “I have a high respect for Larry Ellison. He’s somebody I know, he’s been really a terrific guy for a long time.”Oracle’s proposal lacks the payment to the U.S. government that the president has insisted be the condition of any deal, according to two people familiar with the plan. Yet the company will try to use the promise of creating 20,000 new jobs through the popular video app as a way to win his approval, they said.Treasury Secretary Steven Mnuchin, who has played a central role in brokering a deal that would shift the Chinese-owned video app’s U.S.
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