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Business deals

Oracle enters race to buy TikTok's US operations

Tech group is working with investors in effort to outbid Microsoft after Trump divestment order

Oracle’s approach comes after Donald Trump last week ordered ByteDance to divest TikTok’s US operations within 90 days   © Reuters

NEW YORK/SAN FRANCISCO (Financial Times) --Larry Ellison's Oracle has entered the race to acquire TikTok, the popular Chinese-owned short video app that President Donald Trump has vowed to shut down unless it is taken over by a US company by mid-November, people briefed about the matter have said.

The tech company founded by Mr Ellison had held preliminary talks with TikTok's Chinese owner, ByteDance, and was seriously considering purchasing the app's operations in the US, Canada, Australia and New Zealand, the people said.

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