The report comes from Bloomberg, based mostly on individuals conversant in the talks. Also, in line with the report, a deal between ByteDance and Oracle will most likely look extra like company restructuring than an outright sale. According to individuals conversant in the matter, Oracle might take a stake in a newly shaped US enterprise and function TikTookay’s expertise associate. That would imply that TikTookay’s US information shall be saved in Oracle’s cloud servers.
On the opposite hand, Microsoft has since confirmed that it’s talks with ByteDance have ended. The Redmond large and Walmart had come collectively to attempt to purchase TikTookay’s US operations. In a press release launched at this time, the corporate stated “ByteDance let us know today they would not be selling TikTok’s US 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. We look forward to seeing how the service evolves in these important areas.”
Surprisingly, it appears to be like like Walmart remains to be attempting to get some type of take care of ByteDance. In a press release to Bloomberg, a Walmart spokesperson stated that “[the company] continues discussions with ByteDance leadership and other interested parties. We know that any approved deal must satisfy all regulatory and national security concerns.”
Even with the take care of Oracle, ByteDance will not be out of scorching water. The US authorities desires ByteDance to dump its US property utterly, whereas this deal is attempting to be extra of a company restructure. As such, it’s unclear whether or not the White House will approve of the deal and permit TikTookay’s operations to proceed within the US after the deadline.