The Trump administration is in talks to bring TikTok under the control of Oracle and US investors

The Trump administration is in talks to have Oracle, along with new US investors, become the owner of TikTok, NPR reports.

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Last year, lawmakers passed a law that forced ByteDance's Chinese parent company to sell TikTok or face a ban in the United States. The app was temporarily shut down until the law went into effect on 20 January, after which incoming President Donald Trump announced that he would issue an executive order to delay the ban.

At the time, Trump voiced his "initial thought" on a deal to save TikTok - to create a "joint venture between current or new owners, with the US taking 50% ownership".

Oracle is an American corporation, a leading software developer and supplier of server hardware for organisations. Image: Reuters

According to NPR, an option is now being considered where Oracle will take control of TikTok's global operations, while ByteDance will retain a small stake. Trump tried to get TikTok to sell its stake back during his first term, and Oracle was among the potential buyers at the time. Although the deal did not go through, TikTok later announced that it had moved all its traffic from the US to Oracle's servers. During a press conference on Tuesday, Trump said that he was ready to allow both Elon Musk and Oracle CEO Larry Ellison to buy the app.

The senators who supported the bill to ban or sell TikTok expressed doubts about Trump's plans and noted that the law provides for ByteDance to fully dispose of its stake in the app.

US President Donald Trump has signed an executive order ordering the Department of Justice not to temporarily impose fines on US companies that cooperate with TikTok.

Source: NPR