On Sunday, Microsoft released a statement saying ByteDance would not be selling TikTok’s US operations to the company. Soon after, reports started flourishing the internet claiming Oracle has won, and it is all set to acquire TikTok’s US operations. However, this seems to be false. The latest report from CGTN claims that ByteDance will not sell TikTok’s US operations to Microsoft or Oracle. Plus, the company will not give the source code to any US buyers, sources said.
“ByteDance let us know today they would not be selling TikTok’s U.S. operations to Microsoft. We are confident our proposal would have been good for TikTok’s users, while protecting national security interests. To do this, we would have made significant changes to ensure the service met the highest standards for security, privacy, online safety, and combatting disinformation, and we made these principles clear in our August statement,” Microsoft said in a statement.
Earlier today, it was reported that Oracle is gaining the upper hand in its negotiations for TikTok‘s US operations. However, the new report says, “CGTN has learned from sources that ByteDance will also not sell TikTok’s U.S. operations to Oracle.” Further, there is no official statement from ByteDance yet, and it has declined to comment on this matter. To recall, the US President set a deadline last month for TikTok to be sold to a US company by September 15 or face a ban. The deadline ends tomorrow.
Moreover, the Chinese government recently changed its rules on tech exports, which bans the commercialization of specific technology categories to foreign countries. Now, ByteDance may have to obtain a license from the government to proceed with TikTok’s sale to an American company.