TikTok rejects Microsoft deal, now Oracle may acquire. Microsoft will no longer buy Chinese short video app TikTok. US company Microsoft has said that TikTok’s parent company Byte Dance has rejected Microsoft’s bid, which is why it has to be decided.
TikTok rejects Microsoft deal, now Oracle may acquire
Significantly, TikTok is on the verge of being banned in the US and President Trump has given 100 days to sell TikTok’s American business from Bite Dance.
According to the report, now the American company can buy the American business of Oracle TikTok.
Microsoft said in a statement that Byte Dance has said that they will not sell their American operation to Microsoft. It is worth noting that only last month, Microsoft had issued a statement that the company is preparing to buy TikTok’s business in America, Canada and New Zealand.
Now that Microsoft’s bid has been rejected, the American company Oracle is now ahead in this race. Recently there were reports that Oracle is also showing interest in buying Tik Tok’s American business.
According to a Wall Street Journal report, Oracle Corp has won the bid to buy TikTok’s American business. This report is currently quoted by sources.
Neither Oracle nor TikTok’s parent company Bytedance has so far confirmed that Oracle has won the bid to buy TikTok’s US operation.
However, the TWSJ report also said that Oracle could be announced as a trusted partner of TikTok America. In this report, sources have been quoted saying that it will not be completely like a sale.