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9/16, 4:04 PM (Source: TeleTrader)
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Beijing likely to approve Oracle, TikTok deal - report

The Chinese government is unlikely to block the agreement between ByteDance Ltd. and Oracle Corp., the Financial Times wrote on Wednesday.

According to the agreement, a new, United States-based company will be formed to run TikTok, with ByteDance as the majority shareholder. Oracle, who will hold a minority stake, will independently process the video app's data, the newspaper said.

Earlier today, it was reported that the Trump administration was experiencing an internal struggle between those officials that supported the deal and those against it.

Breaking the News / MD