TikTok sale to Walmart, Oracle halted over Biden

The sale of Chinese social media app TikTok to Walmart and Oracle has been postponed indefinitely, the Wall Street Journal reported on Wednesday.

According to people close to the matter, the companies are waiting for United States President Joe Biden to review the Trump administration's policies on security risks from Chinese firms. In the meantime, the US government continues to hold talks with TikTok's parent company ByteDance to learn how TikTok is planning to make sure the Chinese government does not access US citizens' private data via TikTok.

The report comes after ByteDance agreed to sell TikTok after former President Donald Trump threatened to ban the app unless it was sold to an American company.