Microsoft has reported that its offer to buy the US operations of TikTok has been rejected. Oracle is all set to buy US operations of TikTok.
Microsoft announced on Sunday that “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.”
“We look forward to seeing how the service evolves in these important areas,” its statement added.
This creates an opportunity for Oracle, who Mr. Trump said would be “a great company” to take over TikTok’s US operations last month.
Oracle’s chairman Larry Ellison is a supporter of Mr. Trump and held a fundraising event for him in February.
Mr. Trump offered TikTok’s parent company ByteDance to sell its US operations within three months or shut down the businesses.
US President Donald Trump had given a deadline 15 September deadline for the video-sharing app to sell or close down. Trump administration claimed that TikTok and other Chinese apps are national security threats.
China announced new government restrictions on tech exports two weeks ago. As per the restrictions, some technologies such as AI will need government approval before they can be exported.