TikTok sale to Oracle, Walmart is shelved as Biden reviews security
Sources tell FOX Business’ Charlie Gasparino that the Biden team is concerned over Mnuchin’s role in the Oracle-TikTok transaction and they are taking a fresh look at the deal.
WASHINGTON—A U.S. plan to force the sale of TikTok’s American operations to a group including Oracle Corp. and Walmart Inc. has been shelved indefinitely, people familiar with the situation said, as President Biden undertakes a broad review of his predecessor’s efforts to address potential security risks from Chinese tech companies.
The TikTok deal—which had been driven by then-President Donald Trump—has languished since last fall in the midst of successful legal challenges to the U.S. government’s effort by TikTok’s owner, China’s ByteDance Ltd.
Discussions have continued between representatives of…
