TikTok has gone with Oracle instead of Microsoft. According to the source, TikTok owner preferred escort tp purchase the famous video-sharing app. On Sunday, Microsoft declared that its offer which was approached for TikTok has been rejected. Consequently in results in removing the Tech Prossus from the running. Its have happened a week before Donald Trump assures to follow the plan to ban the Chinese Owned app in the U.S. but TikTok rebuffed to the comment.
TikTok, Plan to ban
After banning the major no. of Chinese apps in India, professing the risk of national-security Trump administration was seeking to ban TikTok by 20 September as it is under the ownership of China. Tik Tok urged for not banning the app and denies all the claiming of national security issues.
TikTok opened up on the national security risks claims and said that is only known for its fun, videos, pranks, and lip-syncing video clips. It added that it has not shared any user’s data with the government or officials of China and requested the government of the USA that it is not going with any of the activities indulging any threat to the national security of the US nation or privacy of the users’ data.
The commissioned body works
In the United States, any deal if takes place must still be supervised and checked by the cabinet on Foreign Investigation which is known as CFIUS. It is the governing body of the US chaired by the Treasury secretary of the nation that has eyes on the affiliations for national security purposes.
After the recommendation of the CFIUS panel, the President has the right to approve or disapprove any transaction. Trump has already favored and gave his support for Oracle mentioning it as a”Great company” that could control such accession.
Statements and comments
Microsoft exclaimed that Bytedance, “let us know today they would not be selling TikTok’s US operations to Microsoft”.
TikTok has not replied to all such comments over the statement of Microsoft.
Yet, Oracle did not go back to any request for any kind of comments over the statement of Microsoft as it initially dismisses the comment.