Sources tell FOX Business’ Charlie Gasparino Microsoft is still seen as the top candidate to buy TikTok, although additional potential buyers are still keeping an eye on the short video platform.
President Trump said Tuesday that Oracle could take over TikTok after giving an executive order banning the video card if its US operations remain under Chinese control.
With Microsoft as a leading candidate to get the app, The Financial Times reported on Tuesday that Oracle is “seriously considering” the purchase of the app’s operations in the US, Canada, Australia and New Zealand.
TIKTOK launches information board, twitter account to set up ‘the registry’ about business rumors, malformation
“Oracle is a great company,” the president said in answering questions during a White House event, adding that the owner, billionaire Larry Ellison, is a “great person” and the software company “could handle it.”
He added that his Aug. 6 executive order to ban TikTok in the U.S. if not purchased by a U.S. company will be effective on Sept. 15. The administration gave the social media company 45 days to shift its operations.
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TikTok sues the Trump administration over the executive order.
| Ticker | Security | Last | Change | Change% |
|---|---|---|---|---|
| ORCL | ORACLE CORPORATION | 55.18 | +1.19 | + 2.20% |
The president and other U.S. officials have claimed that the app poses a threat to national security and the personal data of its users, as it is owned by Chinese tech giant ByteDance and all Chinese companies must comply with government requests for information under a National Intelligence Act of 2017..
India banned the app and dozens of others amid tensions with China. Members of the U.S. military, Wells Fargo staff and TSA staff were prevented from downloading the app, citing security reasons, and the House of Representatives submitted a bill on August 6 that would ban the app on government devices prohibit.
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TikTok has been downloaded more than 2 million times, according to app data and analytics firm Sensor Tower, and it is estimated that nearly a third of its user base is under 13, The New York Times reported on August 14.
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