Oracle Is Said to Win Deal for TikTok's U.S. Operations
Source: Bloomberg
Oracle Corp. is the winning bidder for a deal with TikToks U.S. operations, people familiar with the talks said, after main rival Microsoft Corp. said its offer for the video app was rejected.
ByteDance Ltd., TikToks parent, turned down Microsofts previous bid to buy TikToks U.S. assets. A deal with Oracle is narrower, appearing more like a corporate restructuring than an outright sale, one of the people said.
snip
One person familiar with the deliberations in the White House said its unclear whether a deal with Oracle will pass muster with the Trump administration, where various factions have been pushing for a complete shutdown or an outright sale of TikTok to an American company.
snip
Oracle, a company with a closer relationship to the U.S. president, emerged as a bidder with the backing of Sequoia Capital, a key ByteDance shareholder.
Read more: https://www.bloomberg.com/news/articles/2020-09-13/oracle-is-said-to-gain-advantage-in-deal-for-tiktok-in-u-s
Not to worry because Sarah Cooper is getting a Netflix special.
progressive nobody
(816 posts)mysteryowl
(7,323 posts)blogslut
(37,955 posts)I'm sure everything will be super duper.