LONDON (ShareCast) - (Sharecast News) - US President Donald Trump showed his support for Oracle's bid to acquire Chinese tech company TikTok's US, Canadian, Australian and New Zealand operations.
Trump said the enterprise software giant Oracle is "a great company" after he was asked y by reporters if it would be a good buyer for TikTok.

Speaking at an event in Yuma, Arizona, Trump said: "Well, I think Oracle is a great company, and I think its owner is a tremendous guy. He's a tremendous person. I think that Oracle would be certainly somebody that could handle it. Yeah. We gave them until September 15."

His support comes after last week, he said his administration would ban TikTok unless the app can be sold to an American organization within 90 days.

Oracle and Microsoft were the two front runners in the race to acquire the increasingly popular video app.

Asked which company he'd rather see take ownership, Trump said: "I guess Microsoft wants it and so does Oracle, and probably so do other people, but they have to also make sure the United States is well compensated because we're the ones making it possible. Very simple: We're the ones making it possible."

Trump added: "Our Treasury has to be very well compensated."

According to Reuters, investors value TikTok's global business at $50bn, but it is yet unclear how much Oracle is prepared to pay for the app.

Trump said last week in an executive order that there is credible evidence that leads him to believe that ByteDance "might take action that threatens to impair the national security of the United States."

ByteDance denies the allegations.

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