TikTok Chooses Oracle Partnership Over Microsoft Sale
Oracle edged out Microsoft in negotiations for the U.S. operations of TikTok, according to multiple sources.
The deal must still receive White House approval. But it won’t hurt that Oracle boss Larry Ellison is a long time Trump friend and supporter.
TikTok has more than 100 million users in the US and 800 million globally.
The deal between TikTok owner ByteDance Ltd. and Oracle looks more like a corporate restructuring than the outright sale, according to sources.
Early offers had valued the U.S. TikTok business at $25 billion, but then Chinese officials added new rules imposing limits on technology exports making the deal more complex,