On September 14, early morning as per US timing, Microsoft issued a statement starting that ByteDance informed them today that they will not sell TikTok’s US business to Microsoft.
According to new sources, ByteDance will not sell TikTok’s US to Oracle. In response, Wal-Mart stated that it will continue to be interested in TikTok investment and will continued to discuss with the ByteDance leadership and other interest parties.
As per ByteDance China statement
ByteDance is negotiating a solution not to sell its US business. Revelant sources said the ByteDance will not sell TiKTok’s US branch and it will not hand over the source code to any US buyer.
We are confident our proposal would have been good for TikTok’s users, while protecting national security interests, “Microsoft ( MSFT ) said in a blog post, To do this.
We would have made significant changes to ensure the service met the highest standards for security, privacy, online safest and combating disinformation and we made these principles clear in our August statement.
TikTok US Oracle Deal key points:
- Talk of sale began once President Donald Trump issue executive orders last month seeking TikTok ban or either sold to US company.
- Exact TikTok and Oracle remains unclear, but it was described as an sold out last night as per cnn news.
- Microsoft announced , they will no buy TikTok’S us operations from its ByteDance.