Beijing unlikely to approve ByteDance’s TikTok deal with Oracle

China is unlikely to approve an “unfair” deal Oracle Corp and Walmart Inc said they have struck with ByteDance over the future of video-streaming app TikTok, the state-backed Global Times newspaper said in an editorial.

The US majors have said they would buy into a new mainly US-owned company, TikTok Global, with a board of directors comprised mainly of Americans, as the parties work to pacify the administration of US President Donald Trump, which had planned to ban TikTok in the United States on security grounds.

In contrast, ByteDance has said TikTok Global would be its US subsidiary with 80% ownership.