Software giant Microsoft’s acquisition bid for the US operations of TikTok has been rejected by the social media platform’s Chinese parent, leaving its prospects up in the air one week before the deadline to make a deal.
China’s ByteDance informed the suitor on Sunday that it won’t be selling the business to Microsoft. The impasse may give the upper hand to Oracle, another US technology firm that has reportedly been in talks with Beijing-based ByteDance. Shortly after the news broke, Reuters and the Wall Street Journal reported that ByteDance had picked Oracle as the winning bidder, citing sources.
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