One of the giant companies who would love to take over TikTok
Oracle has been reportedly the new biggest competitor of Microsoft in purchasing the Chinese-owned social media platform, TikTok.
Oracle is known to be the world’s second-largest software company after Microsoft.
Rumors say that Oracle is a serious buyer of TikTok. According to Financial Times reports, there will be two major advantages if Oracle will be the new owner of TikTok.
Here is the Financial Times Report regarding this Oracle matter:
The tech company co-founded by Larry Ellison had held preliminary talks with TikTok’s Chinese owner, ByteDance.
They are seriously considering purchasing the app’s operations in the US, Canada, Australia, and New Zealand, the people said.Financial Times
Another Oracle’s advantage from Microsoft is that their partners already hold a stake in the Chinese company.
Some sources that they have held preliminary talks about bidding for the China-owned company. However, the constraint on this one would be the amount to purchase as the competition is getting rougher.Financial Times
Oracle opened purchasing the TikTok after Trump threatened to ban TikTok in the US. Unless there will be an American company that would take over its operations.
The Trump administration confirmed the planned ban after signing an executive order whose scope remains unclear.
Microsoft to Purchase TikTok
This allegation was reported first by the Fox Business Network’s Charles Gasparino on Friday.
A TikTok representative stated, “While we do not comment on rumors or speculation, we are confident in the long-term success of TikTok.”
However, Microsoft didn’t give their comments regarding the issue.
It is still unclear though whether President Trump has the power to mandate and order a foreign company to sell its state with another US business. They say this order is to surge to attack TikTok and other Chinese companies, citing security concerns.
Having this vague confirmation, Oracle will be likely the biggest reported buyer of TikTok under Trump administration.