Oracle emerges as a potential buyer for the US operations of the video-sharing app TikTok after Chinese owners reject Microsoft 's offer
TikTok logos are seen on smartphones in front of a displayed ByteDance logo in this illustration taken on November 27, 2019 , 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.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.
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. In early August, Trump issued an executive order stating that if a purchase agreement were not reached by September 20, the platform would have to close in the United States.
In late August China's commerce ministry published new rules potentially making it more difficult for ByteDan ce to sell TikTok to a US entity by adding "civilian use" to a list of technologies that are restricted for export.TikTok meanwhile has filed a lawsuit challenging the crackdown by the US government, contending that Trump's order was a misuse of the International Emergency Economic Powers Act because the platform is not "an unusual and extraordinary threat.
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