US Government Confirms Receiving Oracle Bid For TikTok


US Government Confirms Receiving Oracle Bid For TikTok

The US government has received a bid from Oracle for TikTok’s American operations after the video sharing app’s parent ByteDance rejected a proposal from Microsoft, Treasury Secretary Steven Mnuchin said Monday.

Mnuchin told CNBC his office received the proposal involving Oracle over the weekend and said the bid would be handled by a government panel that reviews foreign transactions for national security concerns.

President Donald Trump’s administration has sought the sale of TikTok from ByteDance, citing concerns about US data security.



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