ByteDance has declined Microsoft’s offer to acquire the US operations of its app TikTok, the tech giant said.
This was announced on the company’s corporate blog while it continued to say that this deal would’ve been very valuable for TikTok users.
The blog announcement said, “ByteDance let us know today 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.”
This rejection by ByteDance means that Oracle still has a chance of taking over the US division, as it was one of the other contenders that was hoping to buy that side of the app. A lot of US and Canadian media reports claim that a deal has already been decided on.
After President Trump has made the decison to ban the app based on claims that the TikTok was a national security risk because of the way they used personal data on the app, Microsoft had shared its interest in taking over the US operation sof the company earlier in the year.