(Bloomberg) — TikTok has abandoned talks with Microsoft Corp. to sell its music-video app in the U.S., favoring instead a business partnership with Oracle Corp., people familiar with the talks said.A deal between ByteDance Ltd., TikTok’s Beijing-based parent company, and Oracle is likely to include a stake in a newly configured TikTok business, but will look more like a corporate restructuring than an outright sale, said one of the people, who asked not to be identified because the information isn’t public.The terms being discussed with Oracle are still evolving, one of the people said. For example, Oracle could take a …read more
Source:: Yahoo Finance
