Oracle interested in buying TikTok: report - MarketWatch

Oracle interested in buying TikTok: report – MarketWatch

MW GP644 MicroS ZG 20180906154215

Oracle Corp. ORCL, -0.38% has entered the picture as a potential buyer of TikTok, the Financial Times reported Monday night. Citing sources briefed on the matter, the FT reported that Oracle has held preliminary talks with TikTok owner Bytedance Inc., and was working with a group of investors that already holds a stake in the Chinese company. President Donald Trump on Friday ordered Bytedance to divest itself of assets used to support TikTok, the popular social-media app, in the U.S. within 90 days. Trump claims the app’s data collection poses a national security threat. Microsoft Corp. MSFT, +0.66% has been seen as the front-runner to buy the app’s operations in the U.S., Canada, Australia and New Zealand, though Twitter Inc. TWTR, +0.18% has reportedly expressed interest as well.

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