China unlikely to approve the Oracle, Walmart’s TikTok deal: Chinese state media Global Times says
The decision to sell TikTok U.S. operations to Oracle and Walmart is turning out to be a “lose-lose” deal for the United States and China with neither party walking away happy. On Saturday, President Donald Trump tentatively agreed to a deal in which Oracle and Walmart would take a combined 20% stake in TikTok Global.
Since approved three days ago, the TikTok deal has been shrouded in secrecy and confusion. Over the weekend, President Trump said Oracle and Walmart would have “total control” over the Chinese app. But ByteDance, the owner of TikTok, said it would still own 80% of TikTok Global.
Now, the Chinese state media Global Times is saying that China is unlikely to approve the deal. Global Times said the ByteDance’s deal to set up TikTok Global in the U.S. is “unfair” but it is “reasonable,” adding that Chinese authorities would still need to give their approval to a deal with U.S. giants Oracle and Walmart.
In its English edition published late on Monday, the Chinese newspaper said in an editorial said:
“It is clear that these articles (terms) extensively show Washington’s bullying style and hooligan logic. They hurt China’s national security, interests, and dignity. From the information provided by the U.S., the deal was unfair. It caters to the unreasonable demands of Washington. It’s hard for us to believe that Beijing will approve such an agreement.”
In another post on Twitter on Tuesday, Global Times editor-in-chief Hu Xijin responded to comments made by President Trump to Fox News about how TikTok Global was going to be “totally controlled” by Oracle. Hu said:
” Stop extorting. You think TikTok is a company from a small country? There’s no way the Chinese government will accept your demand. You can ruin TikTok’s US business, if US users do not object, but you can’t rob it and turn it into a US baby.”
Stop extorting. You think TikTok is a company from a small country? There's no way the Chinese government will accept your demand. You can ruin TikTok's US business, if US users do not object, but you can't rob it and turn it into a US baby. pic.twitter.com/Jskn9PjIFU
— Hu Xijin 胡锡进 (@HuXijin_GT) September 22, 2020