September 14, 2020

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 who was not authorized to speak publicly about it.

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.

The Trump administration has threatened to ban TikTok by Sept. 20 and ordered ByteDance to sell its U.S. business, claiming national-security risks due to its Chinese ownership. The government worries about user data being funneled to Chinese authorities. TikTok denies it is a national-security risk and is suing to stop the administration from the threatened ban.

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