Microsoft loses bid to claim TikTok's US operations

Microsoft has confirmed it will not buy TikTok in the United States. In a statement on Microsoft’s corporate site, the company confirms that TikTok owner ByteDance has declined its proposal. Meanwhile, the Washington Post reports that Oracle has won the race to acquire the popular app’s US operations. According to anonymous sources speaking to the Washington Post, ByteDance has proposed to the US government that instead of selling its US operation entirely, it will retain ownership, while it will be transferring cloud management to a US company. According to the same Washington Post report, Oracle executives are “close” with US President Donald Trump.