Tik Tok Rejected Microsoft’s Bid And Oracle Is Leading The Race.  

Tik Tok Rejected Microsoft’s Bid And Oracle Is Leading The Race. - Telugu American Business, Banned, Big Shock, China, China App, Deal, Microsoft, Other Countries, Tik Tok, Tiktok

US tech giant Microsoft said Sunday its offer to buy TikTok was rejected, leaving Oracle as the sole remaining bidder ahead of a looming deadline for the Chinese-owned video app to sell or shut down its US operations.The Wall Street Journal and New York Times reported that Oracle had won the bidding war, citing people familiar with the deal, although the company did not immediately confirm the matter to AFP.

Tik Tok Rejected Microsoft’s Bid And Oracle Is Leading The Race.

The Oracle bid would next need approval from the White House and Committee on Foreign Investment in the United States, a source told the Journal, with both parties under the belief it would meet US data security concerns.

TikTok has been at the center of a diplomatic storm between Washington and Beijing, and President Donald Trump has given Americans a deadline to stop doing business with TikTok’s Chinese parent company ByteDance — effectively compelling a sale of the app to a US company.

Microsoft had indicated at the beginning of August that it was interested in acquiring TikTok’s US operations but said Sunday that bid had been rejected.ByteDance let us know today they would not be selling TikTok’s US operations to Microsoft,” the US tech giant said in a statement.

#Big Shock #Banned #Microsoft #Other Countries #Tiktok

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