TIkTok could avert a ban in the U.S. with a complex investment deal involving Oracle, Walmart, and a U.S. IPO.
News & Analysis: Oracle
Video sharing app will see Oracle and Walmart acquire a 20% stake in the new U.S.-based company.
President will ban the download of the video-sharing app effective Sunday.
But the small stake may not be enough to sway Trump, who has said he wants the app sold to a U.S. company.
However the U.S. tech giant would become a minority shareholder in the new U.S.-based entity.
Fraught with geopolitical tension, the deal at a minimum creates a facsimile of the changes required by the U.S. government.
M&A activity ramped up to start the week.
Optimism about a potential end to the COVID-19 pandemic helped lift markets.
The deal on the table is said to be more of a partnership than an outright sale, however.
That country's government prefers a potential U.S. blackout to a "forced" sale.