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President Donald Trump on Tuesday expressed his support for Oracle Corp. to buy TikTok’s US operations, adding a new wrinkle to the bidding for China-owned video sharing app.
Oracle ORCL,
is a new entrant in negotiations for TikTok, whose owner, ByteDance Ltd. Oracle, an enterprise software giant, has had preliminary talks about working with some of ByteDance’s existing minority investors to buy TikTok’s U.S. operations, but it is unclear how far along the talks are, people said. people familiar with the subject.
Microsoft Corp. MSFT,
said earlier this month he was in negotiations with ByteDance and coordinating with the White House. Twitter Inc. TWTR,
is also considering an offer, the Wall Street Journal previously reported. The Financial Times earlier reported Oracle’s involvement.
Oracle has closer ties to the White House than most of the other parties involved in the tender. Larry Ellison, co-founder, president and largest shareholder of the company, launched a fundraiser at his home earlier this year for the president. Chief Executive Officer Safra Catz also worked on the executive committee of Trump’s transition team in 2016.
Asked Tuesday if Oracle would be a good buyer for TikTok, Trump said, “Well I think Oracle is a great company and I think its owner is a great guy, a great person. I think Oracle would definitely be someone who could handle it. “
An expanded version of this report appears on WSJ.com.
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