With its deadline to sell or be banned in the U.S. fast-approaching, the Chinese tech giant ByteDance says it won't be selling TikTok to either Microsoft or Oracle, according to China state TV.
Microsoft said on Sunday its bid to acquire the U.S. assets of Chinese-owned TikTok has been rejected by TikTok's parent company, ByteDance.Microsoft said on Sunday its bid to acquire the U.S. assets of Chinese-owned TikTok has been rejected by TikTok's parent company, ByteDance.With its deadline to sell or be banned in the U.S.
"We are confident our proposal would have been good for TikTok's users, while protecting national security interests," a Microsoft spokesman said."To do this, we would have made significant changes to ensure the service met the highest standards for security, privacy, online safety, and combating disinformation. ... We look forward to seeing how the service evolves in these important areas.
The move means that any deal for TikTok might not include the app's sophisticated algorithm, seen as the secret ingredient to its success.
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