ByteDance, the parent company of TikTok, would not be selling the video-sharing app’s U.S. operations to Microsoft, according to a statement released by Microsoft on Sunday.
Microsoft added in the same statement that “We are confident our proposal would have been good for TikTok’s users, while protecting national security interests.”
The move to reject Microsoft has left Oracle as the sole remaining bidder ahead of a looming deadline set by U.S. President Donald Trump for the Chinese-owned video app to sell or shut down its U.S. operations by September 15, citing national security reasons.
However, according to some sources, ByteDance will also not sell TikTok’s U.S. operations to the California-based tech company Oracle.
China released a revised catalogue of technologies that are subject to export bans or restrictions at the end of August, which means that ByteDance may have to obtain a license from the government to proceed with TikTok’s sale to an American company.