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ByteDance Negates Deal to Sell TikTok's US Biz to Oracle-Led Consortium
ByteDance stated that the information claiming the company agreed to sell TikTok's US operations to an Oracle (ORCL.US)-led American consortium, while retaining a minority stak...
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ByteDance Negates Deal to Sell TikTok's US Biz to Oracle-Led Consortium
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ByteDance stated that the information claiming the company agreed to sell TikTok's US operations to an Oracle (ORCL.US)      -led American consortium, while retaining a minority stake, is false, China Business Network reported.

Under the "Protecting Americans from Foreign Adversary Controlled Applications Act", ByteDance is required to sell TikTok to address US concerns over data security, or else TikTok will be banned in the US.

Related NewsCN End-Jun FX Reserves Up 0.98% MoM to USD3.3174T
The TikTok transaction must be approved by both the Chinese and US governments, with the US setting a deadline of September 17.
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