President Donald Trump told reporters Monday evening that Microsoft is in talks to acquire TikTok and that he would like to see a bidding war over the popular social media app.
The Trump administration was reportedly negotiating a plan to transfer control of TikTok's global operations to Oracle.
NPR reported Saturday that a group of U.S. investors, including Oracle and possibly Microsoft, would take control of the app from ByteDance, TikTok's Chinese parent company. ByteDance would retain a minority stake, while Oracle would oversee TikTok's algorithm and data collection.
This a developing story and will be updated as information becomes available.
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About the writer
Adeola Adeosun
Adeola Adeosun is the Newsweek Weekend Night Editor based in Atlanta, Georgia. Her focus is reporting on U.S. national news, ...
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