Oracle-TikTok transaction is expected to be decided on Tuesday
According to CNBC’s Jim Cramer (Jim Cramer), Oracle and ByteDance’s TikTok transaction will be officially announced this Tuesday afternoon. However, it is unclear what the US government’s views on the transaction are.
Microsoft confirmed on Sunday that Bytedance had rejected Microsoft’s takeover offer. Since then, it was reported that Oracle was selected as the buyer of TikTok’s US business.
IT Home learned that Oracle on Monday confirmed that the company has reached an agreement with Tiktok’s parent company to become TikTok’s “trusted technology provider.”
In addition, the President of the United States has stated that he supports the transaction between Oracle and TikTok, “I think Oracle is a great company” and “I think Oracle will definitely handle the acquisition of TikTok.”
At present, Tiktok has two paths. One is to wait for the ban on September 29 to take effect, and the other is to find a suitable buyer before the 20th.
In addition, although Oracle has become TikTok’s “trusted technology provider”, this does not meet the requirements of the US President for Tiktok, so the possibility that the US will refuse to approve the transaction cannot be ruled out.
If you think this post can be helpful to somebody else, please share it on Twitter, Facebook or Whatsapp it to friends. There are buttons below for this (easy to use too)! Join Over 5,000 + Readers. Get a free daily update via Email HERE