Oracle wins bidding for TikTok’s US operations
[ad_1]
Oracle ‘wins bid to buy TikTok’s US operation’ after the Chinese app rejected Microsoft – two days before Trump’s deadline for sale of controversial app
- Source claimed Oracle won bidding for Chinese-owned TikTok’s US operations
- Microsoft had said earlier Sunday its bid to buy the app had been rejected
- Comes a week before Trump promises to follow through with a plan to ban the Chinese-owned app in the U.S.
Computer software company Oracle has won the bidding for TikTok’s US operations, a source told the Wall Street Journal.
It comes a week before President Donald Trump promises to follow through with a plan to ban the Chinese-owned app in the U.S.
A person familiar with the matter told the WSJ that Oracle will be announced Tiktok’s ‘trusted tech partner’ in America. They added it is unlikely to be an outright sale.
ByteDance will need approval for the deal from governments of the United States and China.
Computer software company Oracle has won the bidding for TikTok ‘s US operations, a source told the Wall Street Journal
It comes a week before President Donald Trump promises to follow through with a plan to ban the Chinese-owned app in the U.S.
Microsoft had said earlier Sunday its bid to buy the popular video-sharing app had been rejected.
Microsoft said in a Sunday statement that TikTok’s parent company, Bytedance, ‘let us know today they would not be selling TikTok´s US operations to Microsoft.’
The Trump administration has threatened to ban TikTok by mid-September and ordered ByteDance to sell its U.S. business, claiming national-security risks due to its Chinese ownership.
The government worries about user data being funneled to Chinese authorities.
TikTok denies it is a national-security risk and is suing to stop the administration from the threatened ban.
Walmart had planned to partner with Microsoft on the deal.
TikTok didn’t immediately return requests for comment Sunday.
A person familiar with the matter told the WSJ that Oracle will be announced Tiktok’s ‘trusted tech partner’ in America
Microsoft said Sunday it was ‘confident our proposal would have been good for TikTok’s users, while protecting national security interests.’
The company said it ‘would have made significant changes to ensure the service met the highest standards for security, privacy, online safety, and combating disinformation.’
[ad_2]
Source link
