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TikTok selects Oracle in the US after rejecting Microsoft offer

The deal is subject to complex regulatory approvals from two countries

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KOLKATA: TikTok has chosen Oracle for a business partnership after abandoning talks with Microsoft. The Bytedance owned short-video app has chosen Oracle as a technology partner.

According to reports, the terms of the deal are still evolving. It is not clear yet if Oracle would take an ownership stake in TikTok’s US operations. The decision comes at a time when the social media app is running out of time to close a deal in the US within the tight schedule given by the Trump administration. It has to block a deal within 20 September.

Earlier on Sunday, tech giant Microsoft, another bidder for TikTok’s US operation announced that the latter has rejected its offer. “ByteDance let us know today they would not be selling TikTok’s U.S. operations to Microsoft,” Microsoft said. “We are confident our proposal would have been good for TikTok’s users, while protecting national security interests,” it added.

However, the future of the deal is subject to approval from Washington and Beijing. TikTok’s US stake sell has turned to be more difficult since Beijing issued new restrictions or bans in late August on tech exports, requiring companies to seek government approval.

TikTok has more than 175 million downloads in the US. While the administration alleged TikTok could misuse user information, the company has continuously refuted any claim of providing any US user data to the Chinese government. 

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