INTRO: As ByteDance tumbles towards the deadline imposed by US President Donald Trump‘s ban on the corporate, it’s decided to select Oracle over Microsoft for selling off its US operations.
The report comes from Bloomberg, supported people conversant in the talks. Also, consistent with the report, a deal between ByteDance and Oracle will probably look more like corporate restructuring than an outright sale. consistent with people conversant in the matter, Oracle may take a stake during a newly formed US business and function TikTok’s technology partner. that might mean that TikTok’s US data are going to be stored in Oracle’s cloud servers.
On the opposite hand, Microsoft has since confirmed that its talks with ByteDance have ended. The Redmond giant and Walmart had close to undertake and buy TikTok US operations. during a statement released today, the corporate said “ByteDance allow us to know today they might not be selling TikTok’s US operations to Microsoft.
We are confident our proposal would are good for TikTok users while protecting national security interests. to try to to this, we might have made significant changes to make sure the service met the very best standards for security, privacy, online safety, and combatting disinformation, and that we made these principles clear in our August statement. we glance forward to seeing how the service evolves in these important areas.”
Surprisingly, it’s like Walmart remains trying to urge some kind of affect ByteDance. during a statement to Bloomberg, a Walmart spokesperson said that “[the company] continues discussions with ByteDance leadership and other interested parties. we all know that any approved deal must satisfy all regulatory and national security concerns.”
Even with the affect Oracle, ByteDance might not be out of predicament . The United States government wants ByteDance to unload its US assets completely, while this deal is trying to be more of a company restructure. As such, it’s unclear whether the White House will approve of the deal and permit TikTok operations to continue within the US after the deadline.