US Authorities Confirms Receiving Oracle Bid For TikTok

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The US authorities has obtained a bid from Oracle for TikTok’s American operations after the video sharing app’s dad or mum ByteDance rejected a proposal from Microsoft, Treasury Secretary Steven Mnuchin mentioned Monday.

Mnuchin advised CNBC his workplace obtained the proposal involving Oracle over the weekend and mentioned the bid can be dealt with by a authorities panel that opinions international transactions for nationwide safety considerations.

President Donald Trump’s administration has sought the sale of TikTok from ByteDance, citing considerations about US knowledge safety.