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Oracle Corp has held preliminary talks with TikTok’s Chinese proprietor, ByteDance, and was severely contemplating shopping for the app’s operations within the United States, Canada, Australia and New Zealand, the Financial Times newspaper reported on Monday.
Oracle was working with some US traders that have already got a stake in ByteDance, together with General Atlantic and Sequoia Capital, the newspaper reported, citing individuals briefed concerning the matter.
ByteDance and TikTok didn’t have a touch upon the FT report, whereas Oracle declined to remark.
Reuters reported earlier this month that Twitter had approached ByteDance to categorical curiosity in buying the US operations of TikTok, whereas Microsoft was nonetheless the favorite to clinch a deal.
The Financial Times mentioned on Monday Microsoft has additionally severely thought of a bid to take over TikTok’s international operations past the nations it outlined earlier in August.
Microsoft is especially considering shopping for TikTok in Europe and India, the place it was just lately banned by the Indian authorities after border tensions with China, the newspaper mentioned.
But ByteDance is opposed to the concept of promoting any belongings past these within the US, Canada, Australia and New Zealand, in accordance to the report.
US President Donald Trump final week ordered ByteDance to divest the US operations of the video app inside 90 days, ramping up stress on the Chinese firm over considerations concerning the security of the private information it handles.
General Atlantic and Sequoia Capital weren’t instantly out there for remark.
© Thomson Reuters 2020
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