After President Trump’s decision about Tiktok‘s US operations citing concerns over national security. The most likely candidate for a possible acquisition was Microsoft recently, however, according to a report by the Financial Times, Oracle is in talks with the ByteDance, Tiktok’s parent company to attempt to hijack the transaction. Oracle is working with venture capital firms General Atlantic and Sequoia Capital, some of the app’s investors for a rival deal for app’s operations in the US, Canada, New Zealand, and Australia. Bids made by both Oracle and Microsoft are only targeting TikTok’s operations in English-speaking countries.
90-day deadline for the sale
President Trump ordered ByteDance to sell the app’s US business within 90, claiming that ByteDance is using TikTok to breach national security. Oracle’s chairman Larry Ellison is known for his support for Donald Trump. US President stated that Oracle would be a great company to buy TikTok’s US operations and showed his approval. President Trump also joined a New-York-based TikTok rival, Triller. Meanwhile, TikTok declined the claims stating,
“With rumors and misinformation about TikTok proliferating in Washington and in the media, let us set the record straight. TikTok is not available in China. Its US user data is stored in Virginia with a backup in Singapore and strict controls on employee access. TikTok has never provided any US user data to the Chinese government, nor would it do so if asked. Any insinuation to the contrary is unfounded and blatantly false.”
Stay tuned for up-to-date Mobile News
Follow us on Google News