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Microsoft’s (MS) attempt to acquire TikTok was once defeated.
According to the New York Times, Microsoft officially announced on the 13th (local time) that the Chinese company Byte Dance rejected an offer to acquire the American business of TikTok.
Byte Dance is proceeding with the sale of TikTok under the executive order of the President of the United States, Donald Trump. Trump ordered TikTok to separate its business in the United States before September 20.
As the sale of TikTok progressed, Microsoft was mentioned as the most promising candidate for the acquisition. It is also said to be the best company with abundant funds and the best handling of the national security issues that concern the Trump administration.
Microsoft showed a strong desire to acquire TikTok by forming a consortium with Wal-Mart. However, when Byte Dance rejected Microsoft’s proposal, the acquisition was virtually canceled.
In an official comment on the day, Microsoft said: “I was convinced that I had made a proposal that would benefit TikTok users and also help national security.”
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As a result, another acquisition rival, Oracle, is drawing attention. Oracle founder Larry Ellison is one of the leading Trump supporters in Silicon Valley.
Bytedance said that Oracle would become a “technology partner.” However, it is unclear whether Oracle will be able to acquire TikTok, the New York Times said.
