NEW YORK: China's ByteDance has picked a consortium led by Oracle Corp for a deal for the US operations of short-video app TikTok, beating out rival bidder Microsoft Corp, a person familiar with the matter said on Sunday.
ByteDance has been in talks to sell TikTok's US busines to potential buyers since US President Donald Trump threatened last month to ban the service if it was not sold.ByteDance will need approval for the deal from governments of the United States and China. Microsoft said earlier on Sunday it was informed by ByteDance that it would not be selling TikTok's U.S. operations to Microsoft.
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