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Article: Inside China Tech: Is that TikTok deal happening or not?

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5 / 10

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The proposed deal for TikTok's US operations is mired in conflicting statements from ByteDance and Oracle regarding ownership. ByteDance claims it will retain an 80% stake in the new entity, TikTok Global, while Oracle asserts Americans will be the majority owners and ByteDance will have no ownership.

Separately, Huawei states it has sufficient chip supplies for its communications equipment business, but not for its smartphone division.

The main topics covered are the status of the TikTok-Oracle deal and Huawei's chip supply situation.

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https://www.scmp.com/tech/apps-social/article/3103071/inside-china-tech-tiktok-deal-happening-or-not?utm_source=rss_feed

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Science & Research - South China Morning Post

Published Date

2020-09-25 21:30

Fetched Date

2026-03-04 14:32

Processed Date

2026-03-04 15:12

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Inside China Tech: Is that TikTok deal happening or not?
- The deal over TikTok’s US operations is complicated by confusion over the ownership structure of the new entity ByteDance, Oracle and Walmart plan to form
- Huawei says it has enough chips for its communications equipment businesses but not for its smartphones
Hello, this is Melissa Zhu from SCMP’s tech desk in Hong Kong with your Saturday morning round-up of this week’s biggest stories about China tech: more complications surrounding the US TikTok deal, Huawei’s chip supply situation and advancements that could pave the way for safer organ transplants from pigs to humans.
An unpopular agreement
The Chinese entertainment giant said in a post on its news aggregator Jinri Toutiao that TikTok Global will be its wholly-owned subsidiary.
ByteDance plans to list TikTok Global “to further enhance the corporate governance structure and transparency”, but even after a small pre-IPO funding round it will still own a controlling 80 per cent stake, it added.
However, Oracle has said that its new TikTok venture will be entirely divested from ByteDance.
“Upon creation of TikTok Global, Oracle/Walmart will make their investment and the TikTok Global shares will be distributed to their owners, Americans will be the majority and ByteDance will have no ownership in TikTok Global,” Oracle said in a statement to reporters late on Monday in the US.