Microsoft's offer to buy TikTok rejected; Oracle likely to partner
TikTok
Microsoft on Sunday said its offer to buy TikTok has been rejected, with reports suggesting coming Oracle and Bytedance are likely to notch a deal.
"ByteDance let us know today they would not be selling TikTok's US operations to Microsoft," the US tech giant, in a statement, said, adding that their proposal was would have been "good" for TikTok users while "protecting national security interests".
Also read |Two months after TikTok: Influencers busy rebuilding fan base as homegrown apps enjoy 'gold rush'
Earlier, Microsoft was amongst the major contenders to buy TikTok after US President Donald Trump last month gave a deadline to the video-platform company of September 15 to get sold or be banned.
The Washington Post reported that ByteDance has chosen Oracle as a "technology partner" and news agency Reuters quoted a source, claiming there would be a restructuring rather than a sale, with Oracle responsible for handling TikTok's data of US users.
Reuters also reported that Walmart is still interested in investing in TikTok and discussions with ByteDance have been ongoing.
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