Chinese app rejects Microsoft as Oracle ‘wins bid to buy TikTok’s US operation’
American computer technology giant, Oracle Corporation has reportedly emerge winner in the bidding war for TikTok’s US operations after the Chinese app rejected Microsoft.
According to Bloomberg, a Wall Street Journal reported that Oracle will soon be unveiled as TikTok’s trusted tech partner in the United States. The Journal also revealed that the deal would not be structured as an full sale.
A statement from Redmond reads, “ByteDance let us know today they would not be selling TikTok’s US operations to Microsoft.”
It comes after ByteDance said they will not be selling TikTok’s US operations to Microsoft.
According to a source, Microsoft, which were colavroatinfy with Walmart Inc, was earlier recognized as the most likely winner earlier in the process, until more firms including Oracle Corporation showed interest.
Microsoft even said in a statement that it was ready to bring in changes aimed at protecting national security interests.
It said, “To do this, we would have made significant changes to ensure the service met the highest standards for security, privacy, online safety, and combating disinformation, and we made these principles clear in our August statement. We look forward to seeing how the service evolves in these important areas.”
Back in August, President Donald Trump signed executive orders banning social media apps TikTok and WeChat from operating in the US in 45 days unless they are sold by their Chinese-owned parent companies.