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Oracle enters race to buy TikTok's US operations: Report

Oracle enters race to buy TikTok's US operations: Report

FILE PHOTO: A TikTok logo is displayed on a smartphone in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration/File Photo

NEW YORK: Oracle was working with some US investors that already have a stake in ByteDance, including General Atlantic and Sequoia Capital, the newspaper reported, citing people briefed about the matter.

ByteDance and TikTok did not have a comment on the FT report. Oracle did not immediately respond to a Reuters request for comment.

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

The Financial Times said on Monday (Aug 17) Microsoft has also seriously considered a bid to take over TikTok's global operations beyond the nations it outlined earlier in August.

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

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

US President Donald 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 safety of the personal data it handles.

General Atlantic and Sequoia Capital were not immediately available for comment.

Source: Reuters

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