• Thu. Sep 24th, 2020

Dimancherouge

Technology

Microsoft Says Its Bid for TikTok Was Rejected in U.S.-China Standoff

WASHINGTON — The owner of the Chinese app TikTok rejected an offer on Sunday from Microsoft to take over the firm’s U.S. operations, according to Microsoft officials and other people involved in the negotiations, as time runs out on an executive order from President Trump threatening to ban the popular app unless its American operations are sold.

Microsoft was seen as the American technology company with the deepest pockets to buy TikTok’s U.S. operations from its parent company, ByteDance, and with the greatest ability to address national security concerns that led to Mr. Trump’s order. The move leaves Oracle — one of the few Silicon Valley firms to publicly ally with Mr. Trump — as the sole publicly known remaining bidder for TikTok.

ByteDance has indicated that Oracle would be its “technology partner,” but it was unclear whether that meant it would also take a majority ownership stake of the app, the people involved in the negotiations said.

Microsoft declined to elaborate. ByteDance declined to comment. A spokeswoman for Oracle did not immediately respond to a request for comment.

Source Article