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Sci-Tech
Tuesday Aug 18 2020
By
Reuters

Oracle reportedly in talks to buy TikTok's US operations

By
Reuters
Oracle was working with some US investors that already have a stake in ByteDance, including General Atlantic and Sequoia Capital. Photo: Reuters

Oracle has become the latest company to show an interest in buying the US operations of video-sharing app TikTok along with its operations in Canada, Australia and New Zealand, reported the Financial Times newspaper.

Oracle was working with some US investors that already have a stake in ByteDance, including General Atlantic and Sequoia Capital, the newspaper reported, citing people briefed about the matter.

ByteDance and TikTok did not have a comment on the FT report, while Oracle declined to comment.

Reuters reported earlier this month that Twitter had approached ByteDance to express interest in acquiring the US operations of TikTok, while Microsoft Corp was still the favorite to clinch a deal.

The Financial Times said on Monday Microsoft has also seriously considered a bid to take over TikTok’s global operations beyond the nations it outlined earlier in August.

Microsoft is particularly interested in buying TikTok in Europe and India, where it was recently banned by the Indian government after border tensions with China, the newspaper said.

But ByteDance is opposed to the idea of selling any assets beyond those in the United States, Canada, Australia and New Zealand, according to the report.

US President Donald Trump last week ordered ByteDance to divest the US operations of the video app within 90 days, ramping up pressure on the Chinese company over concerns about the safety of the personal data it handles.

General Atlantic and Sequoia Capital were not immediately available for comment.