was the culmination of pressure from the Beijing-based firm's investors as it searched for a deal to appease the United States and China, according to people familiar with the deliberations.
It is a risky strategy. President Donald Trump has made it clear he wants to see an outright sale of TikTok to a U.S. technology company, amid concerns among national security officials that U.S. user data could be passed on to China’s Communist Party government. He has threatened to ban TikTok in the United States as early as Sept. 20 if ByteDance does not comply.
This offer fell short of ByteDance investors’ expectations, the sources said. In arguing for its bid with the Trump administration and U.S. lawmakers, Microsoft upset Zhang, because it referred to TikTok as a security risk it could fix, the sources added. ByteDance has maintained that its ownership of TikTok presents no such risk.
ByteDance responded it would choose Oracle even if Microsoft offered the same structure and terms, the source said. Oracle had been working on the potential deal with the ByteDance investors for several weeks, and had made them and Zhang more comfortable about their partnership, according to the source.This account of how ByteDance picked Oracle as its partner for the TikTok deal is based on interviews with six people with knowledge of the discussions who requested anonymity to disclose details.
Maybe he feels it's not the correct move to sell to a Government contractor, putting people's data at risk !
CCP, by its law, has complete control over every single Chinese company. How is this partnership solving the very real security issues the U.S. and the world are facing? The question is not which company, but how it's done! It is more than about the safe keeping of the database.
Sounds like only the US user data is being sold off. Probably the best outcome for both sides.
This is blatantly misleading. He was FORCED to sell, NOT in pursuit of.
Implying, Pro-Trump Beijing-based investor pressure... as Trump 2020 tries to pair China and Biden.
Partnership = CCP control. This is not enough
Oracle simply has better database management. It's Oracle.
DEER_ECHO_ QiZHAI JF Because Donny is buddies with Oracles's owner and by selling that portion of Bytedance to him, no changes will be made in Bytedance status in USA to conduct business. QUID PRO QUO
DEER_ECHO_ QiZHAI JF Well done. Take it or leave it
DEER_ECHO_ QiZHAI JF 还不是懂王强买强卖搞出来的，这时候pompeo又不说自由民主公平贸易了
DEER_ECHO_ QiZHAI JF Oracle is a right wing Trump loving organisation. The hedge fund involved is Trump loving as well. TikTok is now TrumpTok. Only use it if you're a MAGAhead.
DEER_ECHO_ QiZHAI JF From the day Trump threatened tiktok_us ban if not sold to an American company I was 200% confident China is not going to be bullied into this. If one Chinese company budges to threat & sells then everyone of their companies will be pushed to follow the precedence set.
DEER_ECHO_ QiZHAI JF I AM AN ORACLE TikTok
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNBC - 🏆 12. / 72 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »