Walmart and Oracle's Bid to Acquire TikTok is Dead. Now What?

TikTok, the short-form video service owned by China's ByteDance, continues to face an uncertain future. In mid-2020, the Trump administration cited national security concerns related to data privacy and threatened to ban TikTok, forcing the company to find a buyer. Oracle (NYSE: ORCL) and Walmart (NYSE: WMT) stepped forward with bids to own partial stakes in TikTok Global, which would have housed the company's U.S. operations. The tech titans have now reportedly shelved the deal as the Biden administration conducts its own wide-ranging review of the security risks related to the China-based company's data collection.

On this clip from Motley Fool Live recorded on Feb. 10, "The Wrap" host Jason Hall, Fool analyst Nick Sciple, and Fool.com contributor Danny Vena discuss the implications and what happens from here.

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Source Fool.com