Oracle is Considering Buying TikTok
The tech company has held preliminary talks with ByteDance Ltd., the owner of TikTok, and is seriously considering acquiring the company's businesses in the US, Canada, Australia and New Zealand, writes the Financial Times.
Oracle is in discussion with a group of US investors that already own stakes in ByteDance, including General Atlantic and Sequoia Capital.
The main contender for the purchase of TikTok at the moment is Microsoft, which in early August announced that it had negotiated the possibility of acquiring divisions in the United States, Canada, Australia and New Zealand.
As reported, the price of the deal, which was discussed in the negotiations, ranges from $ 10 billion to $ 30 billion.
Meanwhile, US President Donald Trump has issued a new decree limiting the operation of TikTok in the United States. The decree directs ByteDance and its subsidiaries to divest from all assets and dispose of personal user data collected through TikTok or Music.ly in the United States. Trump also said that TikTok will be discontinued in the US if it is not sold to a US company by September 15.