American Oracle is considering buying a stake in the Chinese service TikTok, joining the race with Microsoft and Twitter to acquire the service’s operations in the United States, the Financial Times reported, citing sources.
“Technology company … held preliminary talks with the Chinese owner of TikTok, ByteDance, and is seriously considering buying the app business in the US, Canada, Australia, and New Zealand,” sources told the publication. Oracle also worked with a group of American investors who already have a stake in ByteDance, including General Atlantic and Sequoia Capital, the sources said.
Earlier in August, Microsoft announced that it was continuing negotiations to buy TikTok’s business in the US, Canada, Australia, and New Zealand, with plans to complete them no later than September 15. Then, the media reported that Twitter held preliminary talks with the Chinese service TikTok about a possible merger with the American branch of the app.
Sources of the publication note that Microsoft is considering buying the TikTok business outside of the announced countries. As for Twitter, the newspaper’s sources expressed concerns about the social network’s ability to finance the deal. ByteDance itself, the source adds, is opposed to selling any assets outside the US, Canada, Australia, and New Zealand.