Ex-Treasury Secretary Mnuchin Eyes TikTok Buyout Amid Threat Of US Ban: 'It's A Great Business'
Portfolio Pulse from Benzinga Neuro
Steven Mnuchin, former U.S. Treasury Secretary, is leading an effort to acquire TikTok amid legislative actions that could force its sale or ban in the U.S. The House has passed a bill targeting TikTok, owned by ByteDance, for its Chinese ties, with the bill now moving to the Senate. Mnuchin's interest in purchasing TikTok emphasizes the need for American control over the platform, which has around 150 million U.S. users. His previous dealings include an investment in New York Community Bancorp and a data partnership with Oracle during the Trump administration's scrutiny of TikTok.
March 14, 2024 | 12:56 pm
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Oracle, previously involved in a data partnership with TikTok during the Trump administration's scrutiny, could see renewed interest or impact due to Mnuchin's acquisition efforts and the legislative focus on TikTok.
Oracle's previous involvement with TikTok through a data partnership could become relevant again if Mnuchin's acquisition efforts progress, especially given the legislative environment. However, the direct impact on Oracle's stock price in the short term is uncertain, as the outcome of the acquisition efforts and the legislative process is still pending.
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