The Strategist

ByteDance refuses to sell TikTok to Microsoft

09/14/2020 - 04:31

Chinese company ByteDance will not sell its TikTok social network to Microsoft. This was reported by the American corporation.

Sources of Reuters and The Associated Press (AP) said ByteDance plans to sell the social network to Oracle Corp. Previously, Twitter was also named among potential buyers.

“ByteDance informed us today that they will not sell the US segment of TikTok to Microsoft. We are confident that our proposal would suit TikTok users while protecting national security interests,” Microsoft said in a statement.

US President Donald Trump has promised to ban the application if an American company does not buy it. The US authorities believe that TikTok is engaged in propaganda and transfers data to the Chinese authorities. In response, the PRC was obliged to coordinate the sale of the social network with the government.