TikTok owner ByteDance rejected Microsoft's offer for the app's US operations
The Chinese owner of TikTok rejected Microsoft's offer to buy US operations for the popular video app, according to aThe move left Oracle as the sole publicly known contender to purchase the American operations of TikTok.
"ByteDance let us know today they would not be selling TikTok's US operations to Microsoft," Microsoft wrote in the statement. "We are confident our proposal would have been good for TikTok's users, while protecting national security interests." "To do this, we would have made significant changes to ensure the service met the highest standards for security, privacy, online safety, and combatting disinformation, and we made these principles clear in our August statement," the company continued in the announcement. "We look forward to seeing how the service evolves in these important areas."
It is unclear as to why Microsoft's bid was rejected. A representative from ByteDance did not immediately return Business Insider's request for comment. President Donald Trump and a group of ByteDance's US investors have shown support for Oracle acquiring the US operations of TikTok, as the company hasSources involved in the acquisition talks told The New York Times that ByteDance has named Oracle as its "technology partner," though the company's bid has not been publicly accepted by the Chinese internet company.
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