Oracle Emerge as a New Bidder for Buying TikTok Operation in the U.S
On Monday, after Microsoft and Twitter, the Financial Times newspaper reported that Oracle Corp held preliminary talks with ByteDance, owner of the Chinese video streaming app TikTok. The company is seriously considering purchasing the app’s U.S., Canada, Australia, and New Zealand operations.
The newspaper reported that Oracle was working with other investors who already have stakes in Chinese ByteDance in the U.S. including Sequoia Capital and General Atlantic.
Earlier this month, according to reports, Twitter Inc had approached ByteDance with a proposition to express interest in acquiring TikTok’s U.S. operations.
Meanwhile, Microsoft Corp was still holding talks for a deal to acquire TikTok’s operations in the U.S., Canada, Australia, and New Zealand’s operations. On Monday, The Financial Times said that Microsoft, as outlined earlier in August, has a great interest in the bid to take over TikTok’s global operations beyond the nations.
The company is particularly interested in buying TikTok’s operations in Europe and India. In India, the operation of the apps was recently banned by the Indian government after border tensions with China. Also, some of the countries in Europe banned TikTok stating security reasons.
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However, according to the report China-based ByteDance has opposed the idea of selling assets beyond the United States, Australia, Canada, and New Zealand.
Last week, the U.S. President Donald Trump has signed an executive order against ByteDance. They aim to divest the U.S. operations of the video app within 90 days. These orders are also aiming to ramp up pressure on the Chinese company over safety and personal data handling concerns.