ByteDance has rejected Microsoft's offer to purchase the company's popular app TikTok and instead is working on finalizing a partnership deal with Oracle Corp. and existing ByteDance investors, the South China Morning Post reported Sept. 14.

China, U.S.: Oracle Nearing Final TikTok Deal

ByteDance has rejected Microsoft's offer to purchase the company's popular app TikTok and instead is working on finalizing a partnership deal with Oracle Corp. and existing ByteDance investors that could involve them taking over U.S. operations of the app as well as a share in ownership, though no outright purchase of the app will take place and the source code would remain out of the hands of any U.S. company, the South China Morning Post reported Sept. 14.

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ByteDance has rejected Microsoft's offer to purchase the company's popular app TikTok and instead is working on finalizing a partnership deal with Oracle Corp. and existing ByteDance investors, the South China Morning Post reported Sept. 14. 

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China, U.S.: Oracle Nearing Final TikTok Deal

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