ByteDance will not sell the US operations of its short video platform TikTok to Microsoft or Oracle, nor will the company deliver the source code to any US buyers, a new report by Chinese state media CGTN said, citing sources.
Microsoft had previously confirmed that the company’s offer for TikTok had been rejected. “ByteDance let us know today that they would not sell TikTok’s US operations to Microsoft. We are confident that our proposal would have been good for TikTok users, while also protecting national security interests,” the company said.
This sparked rumors that Oracle is the sole remaining bidder and will enter into a technology partnership with TikTok. CGTN’s report confirms this by saying that TikTok will select the company as a “trusted technology partner” in the United States.
The short video platform has been hit amid growing geopolitical troubles between China and other countries, including the United States and India. US President Donald Trump had previously issued an executive order requesting the company to sell its US operations to a US company. The deadline for this deal is September 20, and Microsoft was considered the highest bidder until today.
Following Trump’s order, the Chinese government revised its policies that impose restrictions on the export of artificial intelligence (AI) platforms built in the country. Reports have said that this may have prompted Bytedance to negotiate the terms of their deal (s).
The future of TikTok in India is at stake despite these deals. The platform has been banned in the country for more than a month and competing platforms from companies like Sharechat, InMobi and others have benefited from the same.
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