A person familiar with the situation said ByteDance had chosen to work with Oracle as a technology partner for Bytedance’s US TikTok operations, while Microsoft said Bytedance had rejected its attempt to buy the app in the US.
But Oracle is unlikely to buy a majority stake in TikTok’s US business, although exactly how the deal will be structured is unclear. The Wall Street Journal reported last week that ByteDance was discussing with the US government arrangements that would allow the Chinese company to avoid a complete sale of TikTok’s US operations.
The newspaper reported that such arrangements could include a deal in which TikTok works with an American technology partner who helps secure its data and potentially takes a small stake. The Trump administration has said that TikTok’s US business must be sold to an American buyer by this week or the app will be banned in the country. Before the end of the specified period By the American President.
But the full sale faced the challenge that it had to be approved by the Chinese government, and Microsoft said in its statement that TikTok owner ByteDance “told us today that they will not sell TikTok’s US operations to Microsoft.”
“We are confident that our proposal was beneficial to TikTok users, while protecting national security interests,” Microsoft said. Microsoft said it “was making significant changes to ensure the service meets the highest standards for security, privacy, online safety, and combating misinformation, and we made these principles clear in our August statement and we look forward to seeing how the service evolves in these important areas.”
Meanwhile, Walmart, which previously discussed working with Microsoft for a TikTok spinoff, said in a public statement that it “remains interested in investing in TikTok” and is talking about it with ByteDance and other parties, the AP reported.
Source: theinformation
