Trump says he approves TikTok deal, with possible Texas headquarters
President Donald Trump told reporters Saturday that he has approved Oracle Corp.’s bid for the U.S operations of TikTok and it likely will have a headquarters in Texas, according to a report by Bloomberg news service.
As he left the White House on Saturday, Trump said that the deal is approved “in concept.” He said TikTok, which is based in China, could hire as many as 25,000 people in the U.S. The deal could potentially help the app avoid a shutdown.
The future of the short form video-based social media application in the U.S. has been uncertain. It is set to be banned Sunday under an order from the United States Commerce Department unless a sale is made to a U.S-based company, and approved by the department.
Earlier Saturday afternoon, Gov. Greg Abbott said in a tweet that he pitched the president about the possibility of moving TikTok to Texas and had spoken to Trump about a deal.
Read more: https://www.statesman.com/business/20200919/trump-says-he-approves-tiktok-deal-with-possible-texas-headquarters