In the latest news, on September 13, US time, Microsoft issued a statement on its official blog stating that Bytedance, a Chinese technology company has refused to sell TikTok's US business to Microsoft. This means that Oracle will become the only public bidder for TikTok's US business.
On August 6, US President Trump signed an executive order requiring ByteDance to sell TikTok's US business within 45 days, that is, before September 20. On the evening of August 14, Trump once again signed an executive order requiring Bytedance to divest itself of any tangible and intangible assets that enable TikTok to operate in the United States within 90 days.
Microsoft said in a statement: "ByteDance informed us today that they would not sell TikTok's US business to Microsoft. We believe that our acquisition proposal would benefit TikTok users while protecting the national security interests of the United States."
In late August, the two biggest supporters of Bytedance, Sequoia Capital and General Atlantic, began to join hands with Oracle to participate in the bidding. At the same time, American retail giant Wal-Mart also confirmed that it has joined hands with Microsoft to acquire TikTiok's US business.
According to the South China Morning Post, the transaction between Oracle and ByteDance does not involve the sale algorithm.
But at present, Oracle has not issued a statement on how it will handle TikTok's deep technology.
Oracle Corporation Building. Source: Tom Brenner/Reuters
China News Service National Express today quoted sources as saying that the news that ByteDance will not sell TikTok to Microsoft is more accurate, and ByteDance will not sell TikTok US branch to Oracle.
However, Western media reported that people familiar with the matter said that Bytedance has decided not to sell or transfer the algorithm behind the video sharing application when it sells or divests its assets.
Whether ByteDance will eventually trade with Oracle is still unknown. If ByteDance refuses to trade, it is temporarily unknown whether the Trump administration of the United States will kill ByteDance. As the deadline is approaching, let us wait and see the final results.
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