Bytedance is in close communication with Oracle on the sale of TikTok’s North American business.
Naijatechnews reported that Microsoft has issued a statement that the owner of TikTok on Sunday local time rejected Microsoft’s offer to acquire the company’s US business.
Microsoft is considered to be the American technology company that has the most financial resources to acquire TikTok’s American business from its parent company Bytedance. After ByteDance rejected its TikTok offer , Oracle became the only public bidder for TikTok.
Those involved in the negotiations said that Bytedance had stated that Oracle would become its “technical partner”, but it is not clear whether this means that Oracle will also obtain a majority stake in TikTok.
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