Last month, Microsoft announced its intention to buy TikTok from parent company ByteDance. This sparked a series of negotiations and talks that have now resulted in a decision ̵
The Wall Street Journal (WSJ) reports that Oracle will publish the announcement soon, according to insider sources. Microsoft pulled out of negotiations to buy TikTok just last night, and ByteDance, accepting a competing offer from Oracle, appears to be answering why.
Contrary to Microsoft’s intentions, this isn’t a full buyout, according to WSJ. Instead, Oracle is listed in the terms as a “Trust Tech Partner”. We need to see a full announcement to understand more of what that means.
President Trump recently threatened to ban TikTok from the US, citing national security concerns. He held back while Microsoft opened talks to buy the company, promising unequivocally that a sale would include data and algorithms and would at least bring TikTok’s US scope to American shores. It is unclear whether Oracle’s offering meets these requirements.
Even if Oracle makes the announcement, the purchase will not be immediate. Regulators on the US and China side will take a look and must approve any deal, “trusted technology partner,” or other means.
via the Wall Street Journal