Oracle Corp. has won the deal to manage TikTok’s US operation. TikTok’s owner ByteDance closes the deal of TikTok in the United States in a partnership with Oracle Corp. However, the latest reports say that ByteDance is not seeling its US TikTok to Oracle nor to Microsoft.
ByteDance won’t sell TikTok US operations
According to the rumours, Oracle was a part of the bidding process to buy TikTok, but some of the reports say that the company is selected as a “trusted tech partner.”
On Sunday, Microsoft announced that their deal of acquiring US TikTok was rejected. Then just after an hour, news comes that Oracle has won the bid of buying TikTok. However, TikTok and White House did not give any comment. If you don’t know, Microsoft was trying to make a deal of buying Tiktok in the US, Australia, Canada, and New Zealand.
If you remember, the US President Donald Trump has signed an order on 6th August for blocking all the transactions with TikTok. The President has demanded an American company to purchase TikTok’s US operation and gave time to buy within 90 days. If not the president will not allow the US users to use the video-sharing app in the US. The Trump administration has said it would ban TikTok on 20th September. As there is a national-security risk because TikTok is a Chinese app.
Nothing is clear with the deal about it will cover only US TikTok’s business or not. The deal will be reviewed by the Committee on Foreign Investment in the United States (CFIUS). It is a government group which studies mergers for security reasons.
Now, it depends on the president, he can approve or deny a transaction approved by the panel. However, Trump has already support for Oracle by saying it a “great company”.
In a statement Microsoft said,
“ByteDance let us know today they would not be selling TikTok’s US operations to Microsoft.”
“it was confident our proposal would have been good for TikTok’s users while protecting national security interests.”
Microsoft says it would have made changes to make sure the users have security, privacy, online safety.
However, as per the latest updates, it is said that ByteDance is not selling US TikTok to Oracle. In a Press time, ByteDance has declined on this matter.