TikTok chooses Oracle, rejects Microsoft for its US operations

Reports say that the Larry Eliison-chaired company will own a minority stake in the ByteDance-owned company

e4m by exchange4media Staff
Updated: Sep 14, 2020 9:36 AM
tiktok

Oracle has been chosen over Microsoft by TikTok as its preferred buyer in the US. Sources close to the matter has disclosed the development to an international news agency. This comes after Microsoft announced that its bid has been rejected by the ByteDance-owned company.

The Larry Ellison chaired Oracle may own a minority stake in the US business.

The decision has been taken a week before US President Donald Trump's deadline to TikTok to pick a buyer or face a complete ban.

Although TikTok has reportedly chosen its buyer, it will need approval from the Committee on Foreign Investment in the United States that may review the acquisition for national-security reasons. President Trump will then give his approval, based on the committee's recommendation. He has, however, in the past, called Oracle a "great company" which is capable of the buy-out.

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