Microsoft says it won’t be acquiring TikTok’s US operations after Chinese parent rejects bid
Software giant Microsoft’s acquisition bid for the US operations of TikTok has been rejected by the social media platform’s Chinese parent, leaving its prospects up in the air one week before the deadline to make a deal.
China’s ByteDance informed the suitor on Sunday that it won’t be selling the business to Microsoft. The impasse may give the upper hand to Oracle, another US technology firm that has reportedly been in talks with Beijing-based ByteDance. Shortly after the news broke, Reuters and the Wall Street Journal reported that ByteDance had picked Oracle as the winning bidder, citing sources.
BREAKING: Microsoft says TikTok’s parent company ByteDance “let us know today they would not be selling” the app’s U.S. operations to the tech giant. pic.twitter.com/h1pfUwrSfP
— Alex Salvi (@alexsalvinews) September 13, 2020
The Chinese company has been under the gun to divest TikTok’s US operations to an American buyer since President Donald Trump ordered on August 6 that a sale must be completed within 45 days. Trump said on Thursday that he won’t extend the September 20 deadline, meaning that the business will either be sold or shut down.
https://www.rt.com/usa/500614-microsoft-not-bying-tiktok