TikTok rejects Microsoft bid; Oracle favourite
September 14, 2020
Microsoft has reported that its offer to buy the US operations of video-sharing app TikTok has been rejected, leaving the door open for Oracle to make a last-minute bid.
US President Donald Trump gave a September 15th deadline for the Chinese-owned app to sell or shut down in the country, citing national security concerns.
Reuters reports that Oracle, which sells database technology and cloud systems to businesses, has won the bidding war.
Earlier reports had said Oracle was seriously considering buying TikTok’s businesses in the US, Canada, Australia and New Zealand with investment firms, including General Atlantic and Sequoia Capital.