Oracle enters race to buy TikTok’s US operations

Platform Economy: TikTok and US politics

The Financial Times newspaper has reported that Oracle has held preliminary talks with TikTok’s owner, ByteDance, and is said to be seriously considering buying the viral short-video app’s operations in the United States, Canada, Australia and New Zealand.

Oracle Corp was working with some American investors who already have a bet in ByteDance, including General Atlantic and Sequoia Capital, the paper reported, citing people briefed about the topic.

ByteDance and TikTok did not have a comment on the FT report, while Oracle declined to comment.

Reuters reported earlier this month that Twitter had approached ByteDance to express interest in acquiring the US operations of TikTok, while Microsoft was still the favourite to clinch a deal.

The Financial Times said on Monday Microsoft Corp has also seriously considered a bid to take over TikTok’s global operations beyond the nations it outlined earlier in August.

Microsoft is very interested in buying TikTok in Europe and India, where it was recently banned by the Indian government after border tensions with China, the paper said.

However, ByteDance is opposed to the idea of selling any resources beyond those in the United States, Canada, Australia and New Zealand, according to the report.

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US President  Donald J Trump last week ordered ByteDance to divest the US operations of the video app within 90 days, ramping up pressure on the Chinese company over concerns about the protection of their personal data it handles.

General Atlantic and Sequoia Capital weren’t immediately available for comment.

The team at Platform Executive hope you have enjoyed this news article. Initial reporting via our content partners at Reuters. Reporting by Kanishka Singh and Ann Maria Shibu in Bengaluru. Editing by Aditya Soni.

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