Oracle wins TikTok US bid, but not for 'full sale'
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After months of discussions and complications, Chinese giant ByteDance is finalizing a deal for the US business of TikTok. The company has reportedly chosen the bid submitted by enterprise provider Oracle over that of a consortium led by Microsoft. However, this will not be structured as a full sale of the hit video service. With this arrangement, ByteDance hopes to allay the concerns of the US government.