Contrary to earlier reports that a Microsoft bid for ByteDance’s TikTok US operations, is near completion, that might not happen soon. Microsoft announced that parent company, Bytedance, rejected its bid to take over TikTok’s US operations.
The rejection could involve handling the storage of user information. Microsoft’s insistence on storing them in the US in line with the executive order banning TikTok could be the issue.
“ByteDance let us know 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,” Microsoft said in a statement.
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This means that a cloud computer corporation, Oracle, is now the sole known suitor for TikTok’s US operations. According to reports, a third US company is also trying to buy TikTok, however, Oracle is in pole position. The company has kept mum regarding its plans for TikTok and has not commented on the recent developments.
President Donald Trump had banned TikTok unless a US company takes it over before 15th September 2020, citing national security concerns. Microsoft had believed that it could complete a deal for the company before the deadline, however another executive order giving TikTok more time had pushed the deadline further to 2nd November 2020, giving TikTok and ByteDance more time.
It is unknown if Microsoft will try to submit another bid for TikTok, but it leaves Oracle as favourites.
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