What you need to know
- Another company has entered the race to buy TikTok.
- U.S. firm Oracle has reportedly shown interest.
- Microsoft seems to be the frontrunner in the race.
A report suggests U.S. firms Oracle has reportedly joined the race to purchase TikTok from ByteDance.
According to the report, Oracle is working with a group of U.S. investors who already own a stake in ByteDance. The report notes that until now, Microsoft was considered the frontrunner in the race to buy TikTok's U.S, Canada, Australia, and New Zealand businesses. The report says Oracle's interested "provided ByteDance with a credible alternative".
ByteDance is on the clock to sell TikTok following an executive order from President Trump stating that U.S. individuals and businesses would be banned from entering into transactions with the company unless it was sold within 90 days. President Trump recently extended the deadline, from that report:
TikTok should accept the ban and not sell to anyone...
Oracle seems to existed on a mission to be hated, there's no other explanation.
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