‘Oracle close to acquiring TikTok’

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Oracle has the best chance of acquiring TikTok at this moment. A deal would be announced within 48 hours, according to sources from CNBC on Friday.

According to an insider, Oracle offers 20 billion to 30 billion dollars to TikTok parent company ByteDance. This would amount to approximately 10 billion dollars in cash, 10 billion dollars in shares and half of TikTok’s profits in the next two years. This is also in line with other CNBC sources who estimate the sales price to be between 20 and 30 billion dollars. The deadline of 48 hours was not met, but sources say it could still be announced before the markets in the U.S. open today.

The United States President Donald Trump has already expressed his support for a potential acquisition of TikTok by Oracle.

Microsoft is also a contender

Microsoft is also interested in TikTok. The tech giant is cooperating with the American supermarket chain Walmart to increase its chances. Walmart plans to use TikTok’s e-commerce and advertising capabilities to compete with Amazon. Amazon Web Services (AWS) is also a competitor of Microsoft.

“We believe that a potential relationship with TikTok U.S. in partnership with Microsoft can add this important functionality and provide Walmart with an important way to grow our external market and advertising companies,” Walmart says.

Walmart has been working with Microsoft for quite some time and the data from the supermarket chain is stored in Microsoft Azure.