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Express News | ByteDance denies that Oracle and others will acquire TikTok's US Business.
ByteDance denies agreeing to sell TikTok's US Business to Oracle (ORCL.US) led consortium information.
According to reports from "First Financial", ByteDance stated that the information suggesting the company agreed to sell TikTok's U.S. Business to a consortium led by Oracle (ORCL.US), while retaining a minority stake, is not true. According to the "Foreign adversaries controlling applications act to protect Americans", ByteDance must sell TikTok to address U.S. concerns over data security; otherwise, TikTok will be banned in the U.S. The TikTok Trade must be approved by the Chinese and U.S. governments, with the U.S. setting a deadline of September 17.
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'TikTok's Owner Has Plans to Move US Users to a New Version of CapCut, the Popular Video-editing App'- Business Insider