US Government Confirms Receiving Oracle Bid for TickTock


The US government has received bids from Oracle for Tiktok’s US operations following a Microsoft offer rejected by the parent of the video sharing app, Bytdance, Treasury Secretary Steven Menuchin said on Monday.

Mnuchin said CNBC received an offer related to Oracle over the weekend to his office 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 demanded the sale of TicketLock from BiteDance, citing concerns about American data security.

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