Oracle beat out rival bidder Microsoft to take over the U.S. operations of popular video app TikTok $ORCL $MSFT
ByteDance, TikTok’s Chinese owner, had been in talks to divest the U.S. business of its hugely popular short-video app to Oracle or a consortium led by Microsoft Corp after U.S. President Donald Trump ordered the sale last month and said he might otherwise shut it down.
On Monday, China’s state-run English television channel CGTN cited sources as saying ByteDance would not sell TikTok’s U.S. operations to Oracle or Microsoft, and would not give the source code for the platform to any U.S. firm. “User data protection and assurances around how the company’s algorithms push content to U.S. users are thoughtful components of a substantive solution, but whether they can change political outcomes is a much more difficult question,” said regulatory lawyer John Kabealo, who is not involved in the talks.
“We urge the U.S. government to provide an open, fair, just and non-discriminatory environment for foreign firms operating and investing in the United States,” he said. Earlier on Sunday, Microsoft said it had been informed by ByteDance that the Chinese firm would not be selling it TikTok’s U.S. operations. Walmart Inc, which had joined Microsoft’s bid, said it was still interested in investing, and that it would talk further with ByteDance and other parties.
Were Trump to agree to ByteDance’s proposed Oracle deal, he would have to rescind his order calling specifically for divestment.
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