Adaptimmune stock plunges after announcing Nasdaq delisting plans
Investing.com -- President Donald Trump will sign an executive order later this week declaring that a deal on TikTok’s U.S. operations meets requirements set out in a 2024 law, a White House official said Monday.
The United States is confident that China has approved the deal and does not plan further talks with Beijing about its details, the official told reporters on a conference call.
Under the agreement, TikTok’s U.S. operations would move to new joint ventures. Oracle will provide security and will be allowed to study the algorithm, with security terms taking effect when the deal closes.
The White House officials indicated the deal could generate hundreds of billions of dollars in economic activity over the next five years.
The investment group will include a mixture of U.S. and global firms, with Oracle and Silver Lake among the investors, though the full list has not yet been finalized. Officials noted that Trump wants investors who are "patriotic" and will "bring value" to the deal.
The U.S. government will not take equity in the venture, nor will it have a selected board member or "golden share" in the new structure.
While officials expressed confidence that regulatory hurdles will be cleared, they acknowledged that necessary paperwork and approvals will still be required on both sides, potentially including an export license from China and U.S. antitrust review.