Trump has tentatively approved a deal that would see Oracle and Walmart claim stakes in TikTok as it forms a new company to avoid a US ban.
Earlier this month President Trump had signed an executive order asking TikTok to divest its U.S. operations in 90 days.
Microsoft, in partnership with Walmart, and Oracle are the top contenders to win the deal.
The Commerce Department announced Friday morning that it would ban U.S. business transactions with Chinese-owned social apps WeChat and TikTok on Sunday. The announcement comes ahead of an ...
Even Amazon is concerned about possible "security risks" with the app.
Retailer hopes deal could help target younger consumers and boost its nascent ad business
Microsoft, Walmart, and Oracle are all vying to buy TikTok's US operations.
China saw deals drop to five-quarter low of 15 deals, down 81% from Q2 of calendar year 2018.However, broader deal-making across the globe has been relatively flat this year