Chinese tech company ByteDance will seek a partnership deal with US tech company Oracle Corp, sources familiar with the negotiations said Monday, hoping for a workaround that will avoid a forced sale of TikTok in the US. Instead of the expected buyout of the video-sharing app’s US operations, the latest proposal would see Oracle become ByteDance’s tech partner, taking over management of TikTok’s US user data and storing it in Oracle’s cloud servers. Former frontrunner Microsoft Corp. on Sunday announced ByteDance had rejected its bid to buy its US business outright, leaving only Oracle in the running for ByteDance’s US operations. Microsoft had said it was “confident our proposal would have been good for TikTok’s users, while protecting national security interests.” While US media outlets reported Oracle had won the bid for TikTok’s US business, ByteDance and Oracle have yet to confirm a deal, and China’s state-run English television channel CGTN said ByteDance would sell its US business to neither company, citing sources familiar with the matter, nor would it share TikTok’s source code with any US company. US President Donald Trump has said he would ban the app in the US due to concerns over US data being potentially accessed by the… Read full this story
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