Oracle reportedly in talks to acquire TikTok assets

Chinese company ByteDance is looking to divest from TikTok's U.S. operations on orders from President Donald Trump, and Oracle could be the firm that takes over.

Citing a person familiar with the matter, CNBC on Monday reports enterprise software specialist Oracle is throwing its hat into the ring as ByteDance eyes a lucrative TikTok sale.Oracle is joining forces with a group of U.S. venture capital firms that currently own a stake in TikTok, the report said. While CNBC's failed to specify which investors are working with Oracle, a report from the Financial Times claims General Atlantic and Sequoia Capital are on board with the plan that would see an acquisition of TikTok's U.S., Canadian, Australian and New Zealand businesses.

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