The owner of TikTok has chosen Oracle over Microsoft as its preferred suitor to buy the popular video-sharing app, according to a source familiar with the deal.
Microsoft announced Sunday that its bid to buy TikTok has been rejected, removing a leading suitor for the Chinese-owned app a week before President Donald Trump promises to follow through with a plan to ban it in the U.S.Microsoft said in a Sunday statement that TikTok's parent company, Bytedance, “let us know today they would not be selling TikTok’s US operations to Microsoft.”The Trump administration has threatened to ban TikTok by mid-September and ordered ByteDance to sell its U.S.