TikTok rejects Microsoft deal, now Oracle could takeover:
Chinese short video app TikTok will no longer buy Microsoft. Us company Microsoft has said that TikTok’s parent company Byte Dance has rejected Microsoft’s bid, so the decision has to be taken.
TikTok is on the verge of being banned in the United States, and President Trump has given 100 days to sell TikTok’s US business with byte dance.
According to the report, the US company can now buy oracle TikTok’s US business.
Microsoft said in a statement that Byte Dance has said it will not sell its US operation to Microsoft. Last month, Microsoft issued a statement stating that the company is preparing to buy TikTok’s business in the US, Canada, and New Zealand.
Now that Microsoft’s bid has been rejected, The American company Oracle is now ahead in the race. Recently, there were reports that Oracle is also showing interest in buying Tik Tok’s US business.
Oracle Corp has won TikTok’s bid to buy a U.S. business, according to a Wall Street Journal report. The report is currently quoted by sources.
So far, neither Oracle nor TikTok’s parent company Bytedance has confirmed that Oracle has won a bid to purchase TikTok’s U.S. operation.
However, the TWSJ report also states that Oracle can be announced as a trusted partner of TikTok America. The report quoted sources as saying that it will not be entirely like a cell.