CFIUS Reportedly Approves TikTok-Oracle Deal Amid Backlash Over ByteDance Majority Ownership

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by Tyler Durden
Wednesday, Sep 16, 2020 - 09:15 AM

Fox Business senior correspondent Charles Gasparino just reported that CFIUS "has approved or will approve" the revamped TikTok-Oracle deal.

However, infighting continues over ByteDance retaining majority ownership of the new US-based company, even though Oracle will reportedly handle all of the video hosting and traffic.

Oracle shares dipped briefly into the red on the news, indicating a reasonably high degree of market confidence in the news.