Software company Oracle has joined the bidding for parts of TikTok, the popular ByteDance-owned short video app that US has threatened to ban unless it cedes its US assets to an American firm, reported Caixin.
Oracle has held preliminary talks with ByteDance to buy TikTok’s operations in the US, Canada, Australia and New Zealand, the Financial Times reported, citing sources familiar with the matter. The software giant is working together with a group of US investors that already own a stake in ByteDance, including General Atlantic and Sequoia Capital.
Oracle’s entry could challenge Microsoft’s bid for TikTok’s operations in the US, Canada, Australia and New Zealand. Being the only company that has made public talks with ByteDance, Microsoft is considered the frontrunner in the race to finalize a deal with the Chinese tech startup.
Twitter is also said to be interested in absorbing TikTok’s US business, irrespective of questions about the US social media company’s ability to finance an acquisition estimated to cost tens of billions of dollars.