President Donald Trump is expect to decide on TikTok’s fate in the U.S. in the next 24-36 hours, sources told CNBC’s David Faber.
Walmart is expected to partner with Oracle in a deal where the latter would own roughly 20% of the social media app, according to the sources.
The Treasury Department sent major revisions about security issues on the TikTok/Oracle term sheet Wednesday night, sources told CNBC’s Sara Eisen. ByteDance has fully agreed to those revisions, the sources said.
Trump has been meeting with Cabinet members and other advisers as he decides whether or not to approve the deal, according to others familiar with the matter, who asked not to be named because the talks are private. There are mixed points of views among his advisers, who include Secretary of State Mike Pompeo, Secretary of Treasury Steve Mnuchin and Jared Kushner, the president’s son-in-law, one of the people said.