Oracle challenges Microsoft in the race to buy TikTok
What you need to know
- Another company has entered the race to buy TikTok.
- U.S. firm Oracle has reportedly shown interest.
- Microsoft seems to be the frontrunner in the race.
A report suggests U.S. firms Oracle has reportedly joined the race to purchase TikTok from ByteDance.
As reported by the Financial Times:
According to the report, Oracle is working with a group of U.S. investors who already own a stake in ByteDance. The report notes that until now, Microsoft was considered the frontrunner in the race to buy TikTok's U.S, Canada, Australia, and New Zealand businesses. The report says Oracle's interested "provided ByteDance with a credible alternative".
ByteDance is on the clock to sell TikTok following an executive order from President Trump stating that U.S. individuals and businesses would be banned from entering into transactions with the company unless it was sold within 90 days. President Trump recently extended the deadline, from that report:
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Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design.
Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple. Follow him on Twitter @stephenwarwick9