Oracle Corp. is the winning bidder for a deal with TikTok’s U.S. operations, people familiar with the talks said, after main rival Microsoft Corp. said its offer for the video app was rejected.
ByteDance Ltd., TikTok’s parent, turned down Microsoft’s previous bid to buy TikTok’s U.S. assets. A deal with Oracle is narrower, appearing more like a corporate restructuring than an outright sale, one of the people said.
Early offers from both parties valued the U.S. business at about US$25 billion, but that was before Chinese officials weighed in with new rules imposing limits on technology exports, according to people, asking not to be identified as the information isn’t public.
https://www.bnnbloomberg.ca/oracle-is-said-to-win-deal-for-tiktok-s-u-s-operations-1.1493384