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NEW YORK (AP) – China’s ByteDance has selected a consortium led by Oracle Corp for a deal for the US operations of short video app TikTok, beating rival bidder Microsoft Corp, a person familiar with it said on Sunday (Sept. 13). the case.
ByteDance has been in talks to sell the US TikTok business to potential buyers since US President Donald Trump threatened last month to ban the service if it did not sell.
ByteDance will need the approval of the agreement from the US and Chinese governments.
Microsoft said earlier on Sunday that ByteDance informed it that it would not sell TikTok’s US operations to Microsoft.
“ByteDance let us know today that they would not sell TikTok’s US operations to Microsoft,” the US tech giant said in a statement referring to the owner of TikTok.
“We are confident that our proposal would have been good for TikTok users, while protecting national security interests,” the statement added.
TikTok has been at the center of a diplomatic storm between Washington and Beijing, with President Donald Trump giving Americans a deadline to stop doing business with TikTok’s Chinese parent company ByteDance, effectively forcing the company to sell. application to an American company.
Trump claims that China could use TikTok to track the location of federal employees, create files on individuals to blackmail and conduct corporate espionage.
TikTok has filed a lawsuit challenging the US government’s crackdown, claiming that Trump’s order was a misuse of the International Emergency Economic Powers Act because the platform is not “an unusual and extraordinary threat.”
Downloaded 175 million times in the US, TikTok is used by up to 1 billion people around the world to make wacky, short-form videos on their cell phones. It has repeatedly denied sharing data with Beijing.
