WSJ: It is not Microsoft, Oracle is the company that will buy TikTok America

According to a new report from the Wall Street Journal, Oracle Corp, has been selected as the winner of the TikTok division in the US, after Microsoft said its offer was rejected by TikTok’s parent company ByteDance. deny.

WSJ’s unnamed source said, Oracle will be announced as a ” reliable partner ” of TikTok in the US. The magazine also added that the final agreement of the deal will not be structured as a discontinuous purchase.

” Today, ByteDance told us it doesn’t want to sell its TikTok division in the US entirely to Microsoft .” Microsoft said in its statement. ” We are confident that our proposal will be good for TikTok users, while preserving national security interests .”

Microsoft and Walmart were once seen as winners in the early stages of the deal, but according to a person close to the matter, their talks cooled down. Microsoft was also not asked to revise its original proposal, the person added, as ByteDance is facing signs of opposition from Chinese government officials.

This gave competitor Oracle an edge in the negotiations.

In its statement, Microsoft said it was ready to make changes towards addressing US national security concerns. ” To do this, we will make significant changes to ensure this service meets the highest standards of security, privacy, online safety, and combats false information. We have outlined these principles in our August statement. We look forward to seeing how this service develops in these important areas . ”

Consult Bloomberg