The Trump administration will this week review a deal between Oracle Corp. (ORCL) and TikTok, Treasury Secretary Steven Mnuchin said in an interview Monday. Mnuchin spoke to CNBC after it was reported that Oracle had won the bidding ( ) for the U.S. operations of the video-sharing app, beating out Microsoft Corp. (MSFT). After a review by the Committee on Foreign Investment in the U.S., a recommendation will be made to President Donald Trump, Mnuchin said. TikTok is a unit of China-based ByteDance. The Treasury chief also said he remains open to discussing more stimulus for the coronavirus-battered U.S. economy with House Speaker Nancy Pelosi, a California Democrat.
-Robert Schroeder; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
September 14, 2020 08:41 ET (12:41 GMT)
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