ByteDance will not sell TikTok’s U.S. operations to Oracle Corp or Microsoft Corp and will not give the source code for the video platform to any U.S. buyers, China’s state-run English television channel CGTN reported on Monday, citing sources. People familiar with the matter told Reuters that ByteDance abandoned the sale of TikTok in the United States and decided to pursue a partnership with Oracle in hopes of avoiding a U.S. ban while appeasing the Chinese government. ByteDance declined to comment on CGTN’s report. – Reuters
TikTok’s owner has chosen Oracle over Microsoft as the tech partner that could help keep the popular video-sharing app running in the US. The choice came a week before President Donald Trump’s deadline to ban it in the US. Microsoft says TikTok’s parent company, ByteDance, let it know the decision. The Trump administration has threatened to ban TikTok by mid-September and ordered ByteDance to sell its US business, claiming national-security risks due to its Chinese ownership.
Photo Credit: Logo – ByteDance
— Reuters (@Reuters) September 14, 2020