AsianFin -- Oracle has emerged as a leading contender among potential buyers for TikTok's U.S. operations, as President Trump pushes for the sale of the popular social media platform.
Sources close to ByteDance, TikTok's Chinese parent company, revealed that ByteDance prefers Oracle as the acquirer. Similarly, individuals close to the Trump administration indicated that Trump also supports Oracle's bid for TikTok.
Other potential buyers include a consortium led by billionaire Frank McCourt and another group spearheaded by Reddit co-founder Alexis Ohanian. Despite the sale, ByteDance reportedly aims to remain involved in the platform's daily operations, regardless of the final buyer.
The move comes amid ongoing concerns over data security and national sovereignty, with TikTok facing scrutiny in the U.S. over its ties to China. Oracle's potential acquisition could address these concerns while ensuring the platform's continued operation in the American market.
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