Trump to Seal TikTok Deal with Oracle and Silver Lake

U.S. President Donald Trump is set to sign a deal concerning TikTok's U.S. operations. This deal, involving Oracle and Silver Lake, aims to meet the requirements outlined in a 2024 law. The divestment from Chinese owner ByteDance will be finalized under these new terms.

The Trump administration is poised to finalize the TikTok deal this Thursday, according to a White House insider. The deal to separate TikTok's U.S. operations from ByteDance, its Chinese parent company, has been long anticipated.

This agreement includes significant investments from tech giant Oracle and private equity firm Silver Lake. Aiming to comply with a law set for 2024, this divestment move addresses concerns over data security and foreign ownership.

The White House remains firm in ensuring that new stakeholders and framework will align with U.S. regulatory demands. The deal marks a major shift in TikTok's operational control in the United States.

(With inputs from agencies.)