ByteDance says it will own a majority of TikTok. Oracle says ByteDance will own 0%. WTF is this deal?

ByteDance says it will own a majority of TikTok. Oracle says ByteDance will own 0%. WTF is this deal?

4 years ago
Anonymous $rxtAWepgzY

https://techcrunch.com/2020/09/21/tiktok-wtf/

You know a deal is signed and going to close when the parties keep fact checking each other and no one can agree on what the deal actually says.

We’ve been following the TikTok / Oracle deal for sometime here on TechCrunch, and over the weekend, it seemed like we finally got to the finish line of one of the strangest M&A processes we’ve seen. But the last 48 hours have made everything so confused, I am not sure we even know what the deal is despite it being approved.