September 14, 2020

US government confirms receiving Oracle bid for TikTok

Washington (AFP) – Ahead of a deadline set by President Donald Trump over video sharing app TikTok, Washington officials will evaluate a bid that could see US tech giant Oracle become a partner to a Chinese company that has been called a national security risk.US Treasury Secretary Steven Mnuchin confirmed on Monday the government had received a bid from Oracle for TikTok’s American operations after the video-sharing app’s parent ByteDance rejected a proposal from Microsoft.The transaction is being structured as a partnership and probably won’t be an outright sale, The Wall Street Journal repo…


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