Chinese media “Bite Dance does not sell TikTok to Oracle” … affiliates are ‘silent’

Entry 2020.09.14 16:40

The Wall Street Journal (WSJ) and other major American media reported on the 13th (local time) that the software company Oracle finally decided to acquire the Chinese video-sharing application TikTok, but the Chinese media reports were different.

China’s state media reported that TikTok’s parent company Byte Dance will not sell the US TikTok business to Oracle other than Microsoft, citing “ a brilliant source ” on its Weibo account on the 14th. It reported that .

In a short article posted through the Weibo account, Shin Shin-bo also said, “Bite Dance founder Zhang Yi-ming, CEO, still wants the company to continue global development.” I’m trying to find a solution, “he said.

CGTN, an English language channel for foreign promotions of national broadcaster China Central (CC) TV, also reported that Byte Dance would not sell the US TikTok business to Oracle, citing anonymous sources.

Earlier this day, WSJ and Bloomberg News cited multiple sources and reported that Byte Dance selected Oracle as the negotiator for the sale of the TikTok business in the United States rather than Microsoft (MS), which was a leading candidate. He said he wants a deal close to “conciliation.”

There are also observations that Byte Dance is discussing a rather complex transaction in which Oracle acquires a certain stake, while Byte Dance retains a portion of its American business corporation.

Meanwhile, US President Donald Trump demanded that the US TikTok business be sold to US companies by the 15th for national security reasons.

Byte Dance and Oracle’s official positions are yet to come out regarding this transaction.