US government confirms receiving Oracle bid for TikTok

Washington (AFP) – US officials are to consider a bid by tech giant Oracle to become an American partner to the Chinese-owned TikTok video app after it was designated a national security risk.Treasury Secretary Steven Mnuchin confirmed the offer Monday concerning TikTok’s US operations after its parent company ByteDance rejected a proposal from Microsoft.But key details about the deal were murky and it remained unclear whether the venture would pass muster with Washington regulators.”I will confirm that we did get a proposal over the weekend that includes Oracle as the trusted technology partn…

Read More

HEDGE accordingly