TikTok Spurns Microsoft, In Talks With Oracle Instead

Law360 (September 14, 2020, 10:52 AM EDT) -- ByteDance has rejected Microsoft's offer to buy the U.S. operations of TikTok and is instead pursuing a transaction with Oracle that the companies hope will alleviate U.S. national security concerns, according to Monday statements from Oracle and Treasury Secretary Steven Mnuchin.

Oracle is in talks with TikTok-owner ByteDance for the U.S. operations of the short-form video social media platform, Oracle confirmed Monday. (David Paul Morris/Bloomberg via Getty Images) ByteDance Ltd. has until Sept. 20 to sign a deal that will ease the U.S. government's concerns about the popular Chinese short-form video social media platform, and previously the company had been in...

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