ByteDance will not sell TikTok to Oracle, says Chinese state television, CGTN

CGTN

ByteDance (BDNCE) will not sell TikTok’s U.S. operations to Microsoft (NASDAQ:MSFT) or Oracle (NYSE:ORCL), nor will the company give the source code to any U.S. buyers, sources told CGTN Digital.

That contradicts recent rumors that stated Oracle was the winner following news that Microsoft was out of the picture in the bidding for TikTok’s American assets.

There’s only a few more days until a September 15 deadline imposed by President Trump to prevent a TikTok shutdown. Any deal would also have to receive the approval from the Chinese government, which recently outlined a series of technologies that are subject to export bans or restrictions.

Premarket: ORCL +11.4%; MSFT -0.4%.

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