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Walmart’s use of TikTok will likely continue, even if Oracle deal unravels

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Walmart‘s hopes of owning a stake of TikTok may be dashed, but don’t expect its interest in the viral video app to fade away.

The company’s plan to buy the social media app’s U.S. operations with Oracle has been indefinitely shelved as the Biden administration reviews security concerns with Chinese tech companies, according to a Wall Street Journal report Wednesday. It cited unnamed people who were familiar to the matter.

Walmart spokesman Randy Hargrove declined to comment on Wednesday’s report and referred questions about a potential TikTok sale to the Biden administration. Oracle did not respond to CNBC’s request for comment.

At a White House news briefing Wednesday, press secretary Jen…



Source cnbc.com

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