Backers of a proposed new entity to take over Chinese-owned video-sharing app TikTok are working to create an ownership structure that would give U.S. interests a majority stake, in an effort to ease the Trump administration’s security concerns.

Under the latest plan for TikTok, Oracle Corp. and Walmart Inc. could together own a significant stake, according to people familiar with the situation. That move, if combined with existing American investors, could put majority ownership in U.S. hands, the people said.

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