Oracle is negotiating about buying TikTok

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Oracle is negotiating about buying TikTok

21.08.2020 News

Newspaper Financial Times found that IT-Oracle Corporation wants to buy Chinese video service TikTok. About this edition with reference to sources wrote on August 18.

Official information about negotiations in ByteDance (it owns TikTok), nor Oracle did not comment.

According to sources of FT, the company also is negotiating with investors who own shares in ByteDance: particularly, the joint stock company of General Atlantic and venture capital funds of Sequoia Capital.

It is about the purchase of service assets in the United States, Canada, Australia and New Zealand. The main contender for the purchase TikTok considered to be Corporation Microsoft – in August, it resumed negotiations with ByteDance, which was suspended in July. The deal was discussed again after CEO Satya Nadella spoke with US President Donald Trump. Negotiations were suspended amid Trump’s statements about a possible blockade of the service in the country.

Among other candidates for the purchase of TikTok mentioned Apple and Twitter. The first company, Axios sources said, had expressed “serious interest” in acquiring the assets, but the corporation itself said it was not negotiating. Twitter was negotiating with the company at an early stage, but FT interlocutors have doubts that social networks will be able to finance the deal. In addition, Facebook and Google have shown interest in buying TikTok, according to Fox Business sources.

On August 7, Trump signed a decree of banning deals with ByteDance for Americans. The president explained the decision by security threats – the US authorities believe that ByteDance transmits personal data of users to China. Shortly before the decree was signed, Trump said that the service could be blocked in the United States if it is not bought by one of the American companies. The document will come into force after 45 days its signing.

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