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Oracle ‘leading contender’ to help run TikTok in new deal, The Information says

Oracle ‘leading contender’ to help run TikTok in new deal, The Information says

Oracle (ORCL) has emerged as “a leading contender” to help run TikTok as part of a deal President Donald Trump is orchestrating to satisfy last year’s divest-or-ban law, reports Jing Yang, Juro Osawa, Anissa Gardizy and Sri Muppidi of The Information, citing investors, bankers and former executives familiar with the matter. ByteDance management prefers Oracle, while President Trump has also indicated his support for Oracle playing a key role, though ByteDance’s leaders want to retain a hands-on role with TikTok’s operations in any deal, says the report, which adds that ByteDance’s stance “could undercut hopes of several U.S. bidders interested in buying control of TikTok.”

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