"We did get a proposal over the weekend that includes Oracle as the trusted technology partner with Oracle making many representations for national security issues,'' Mnuchin said. President Donald Trump's administration has threatened to ban TikTok by September 20 and ordered owner ByteDance to sell its U.S. business, claiming national security risks due to its Chinese ownership. TikTok denies it is a national security risk and is suing to stop the administration from enacting the threatened ban. Much remains unclear about the proposed deal with Oracle, which is pointedly not referring to it as a sale or acquisition. Microsoft said in a Sunday statement that ByteDance "let us know today they would not be selling TikTok's US operations to Microsoft.

Source: The Standard September 14, 2020 14:37 UTC