Oracle wins TikTok bidding war but deal may not include sale of U.S. operations

Advertisement

BEGIN ARTICLE PREVIEW:

Oracle Corp. reportedly has beaten Microsoft Corp. in a bidding war for the U.S. operations of TikTok, but in a catch, the deal may not include the sale of the popular short-video app.
The Wall Street Journal, quoting a person familiar with the deal, said today that Oracle is set to be announced as TikTok’s “trusted tech partner” in the U.S. But the deal won’t be an actual outright sale of TikTok U.S. operations by parent company ByteDance Ltd.
Exactly what that means in practice is unknown, with speculation suggesting that Oracle might either run or assist in the running to TikTok using its technology in the U.S. while ByteDance maintains some or all of the ownership of the app in the U.S. The fact that apparently there has not been a full acquisition creates its own issues given that an executive order signed by President Trump Aug. 6 gave the company 45 days to divest TikTik in the U.S. or face being banned. A follow-up order gave ByteDance an extended period of 90 days to divest its U.S. operations, out to Nov. 12.
Whatever form the deal takes, it may yet find favor with …

END ARTICLE PREVIEW

READ MORE FROM SOURCE ARTICLE