Oracle ‘in talks’ over Tiktok takeover as US ban looms
Oracle is said to be mulling a bid for Tiktok as it looks to rival Microsoft in the race to take over the wildly popular social media platform.
The US tech giant, which is led by billionaire Larry Ellison, has held preliminary talks with Tiktok’s Chinese parent company Bytedance over an offer for Tiktok’s operations in the US, Canada, Australia and New Zealand, the Financial Times reported.
Oracle has approached existing Bytedance investors including Sequoia Capital and General Atlantic, according to people briefed about the matter.
The move suggests a heating up in the bidding war for the hit video sharing app, which is facing a crackdown by US authorities over security concerns.
President Donald Trump has threatened to shut down Tiktok unless it is taken over by an American company by mid-November.
Microsoft has emerged as the frontrunner in the bidding war after publicly confirming it had held discussions about a takeover earlier this month.
Twitter has also been linked with a potential bid, though it would need to raise additional capital to fund the takeover.
Tiktok’s US assets expected to sell for as much as $30bn (£22.8bn) — similar to Twitter’s market capitalisation.
By contrast, Oracle has a market capitalisation of roughly $166bn, while Microsoft is valued at almost $1.6 trillion.
Oracle founder Ellison, who is one of the world’s richest men, is a vocal Trump supporter and hosted a fundraiser for the president at his California estate earlier this year.
Microsoft has also expressed interest in buying Tiktok’s operations in Europe and India, according to the report.
However, Bytedance is said to be opposed to selling any assets other than those in the US, Canada, Australia and New Zealand.
Oracle declined to comment. Bytedance did not immediately respond to a request for comment.