ByteDance rejects Microsoft’s bid for Tik Tok’s US operations
Microsoft’s bid for TikTok’s US operations was rejected by ByteDance Ltd. The company informed about the rejection in an official statement. It said, “ByteDance let us know today they would not be selling TikTok’s US operations to Microsoft. We are confident our proposal would have been good for TikTok’s users, while protecting national security interests. To do this, we would have made significant changes to ensure the service met the highest standards for security, privacy, online safety, and combatting disinformation, and we made these principles clear in our August statement. We look forward to seeing how the service evolves in these important areas.” This leaves Oracle as the sole remaining bidder ahead of the September 20 deadline. Microsoft announced in early August it was in talks to buy TikTok. It had also brought Walmart Inc. into the deal. US President Donald Trump said TikTok would be blocked if its US operations weren’t sold to an American Company. Trump administration said that TikTok & other Chinese apps are national security threats. Watch the full video for more.