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9/21, 4:10 PM (Source: TeleTrader)
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China won't approve TikTok deal - report

The Chinese government will not authorize the agreement between Oracle Corp. and TikTok's owner ByteDance Ltd., the Global Times reported on Monday.

Beijing is unlikely to back the deal "because the agreement would endanger China's national security, interests and dignity," the report read.

The Chinese firm revealed earlier in the day that it plans to keep an 80% stake in its US subsidiary TikTok Global, while US President Donald Trump stressed that Oracle and Walmart would have "total control" over TikTok's operations in the country.

Breaking the News / BU