Oracle has emerged as a potential buyer of TikTok according to a report by the Financial Times. Sources told FT that the US tech company was already in “preliminary talks with TikTok owner Bytedance, and was working with a group of investors that already holds a stake in the Chinese company.”
Oracle is not the only company interested in the popular video-sharing platform. Earlier this month, Microsoft CEO Satya Nadella and US President Trump were said to be in talks over the “purchase of TikTok” – this acquisition would allow Microsoft to own and operate the TikTok service in the United States, Canada, Australia and New Zealand.
In a blog post, the tech company says that “Microsoft will move quickly to pursue discussions with ByteDance and in any event completing these discussions no later than September 15, 2020. During this process, Microsoft looks forward to continuing dialogue with the United States Government, including with the President.”
This comes after the US has made it very clear that it’s considering banning by the popular video-sharing app over user-privacy concerns unless Bytedance sells off US operations within 90 days.
US Secretary of State, Mike Pompeo told Fox News that “we are taking this very seriously. We are certainly looking at it. With respect to Chinese apps on peoples’ cellphones, the United States will get this one right too.”
The Verge reports that motivation for the ban stems from the fact that “lawmakers allege that TikTok could be pressured into handing over data or other intelligence to the Chinese Communist Party”.
Microsoft says that it “fully appreciates the importance of addressing the President’s concerns. It is committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury”.
Twitter is reportedly also looking at a possible acquisition.
Edited by Jenna Cook
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