September 14, 2020

US government confirms receiving Oracle bid for TikTok

Washington (AFP) – The US government has received a bid from Oracle for TikTok’s American operations after the video-sharing app’s parent ByteDance rejected a proposal from Microsoft, Treasury Secretary Steven Mnuchin said Monday.Mnuchin told CNBC his office received the proposal involving Oracle over the weekend and said the bid would be handled by a government panel that reviews foreign transactions for national security concerns.¬†Oracle confirmed the submission, saying the company “is part of the proposal by ByteDance to the Treasury Department over the weekend in which Oracle will serve as…


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