A few days back the President of US Donald Trump signed an order that restricted all the US transactions with the TikTok parent company ByteDance along with WeChat, and give 90 days of time to sell the US assets if wants to continue the business there.
Microsoft responds to it and showed its interest to acquire TikTok’s US service atleast. Though the deal doesn’t finalize yet. Now, Oracle Corp entered into the field and also expresses the same. Along with the US service, Oracle also wants to take over Canada, Australia, and New Zealand part. The entry of Oracle will challenge Microsoft’s bargaining, no doubt.
Analysts estimated the valuation of TikTok’s business in the US could be between $20 billion to $50 billion. Keeping in mind the price, Oracle is also one of the few companies to afford it as its own valuation is nearly $166 billion.
On the other hand, ByteDance is in talks with Reliance backed Jio to secure its India’s business, one of the top 5 markets for the company around the globe.
No deal is finalized yet, but it’s clear that ByteDance becomes proactive to finalize any of the deals as early as possible.
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