Chinese company ByteDance has chosen a consortium led by Oracle Corporation to deal with TikTok's short video app operations in the United States, outperforming rival Microsoft, a person familiar with the matter said on Sunday.
ByteDance has been in talks to sell Tik Tok operations in the United States to potential buyers since President Donald Trump threatened last month to block the service if it was not sold.
ByteDance will need the approval of the US and Chinese governments for this deal.
And Microsoft had said earlier that ByteDance had informed it that it would not sell it to TikTok operations in the United States of America.
Informed sources told Reuters that ByteDance had abandoned selling the TikTok app in the United States, and that it had decided to seek a partnership with Oracle in the hope of avoiding a US ban while satisfying the Chinese government. However, ByteDance declined to comment. On the TV station report.
It is noteworthy that the sale of the application in the United States will require the approval of the governments of the United States and China for any such deal, according to Reuters.
