Oracle’s TikTok offering receives backing from President Trump (NYSE: ORCL)

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Asked about Oracle (NYSE: ORCL) as a buyer for TikTok (BDNCE) President Trump says, “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. “

WSJ sources confirm earlier reports that Oracle has had preliminary talks with some ByteDance minority investors, but only for TikTok’s US operations.

Oracle co-founder Larry Ellison organized a fundraiser for Trump, and CEO Safra Catz worked with Trump’s transition team in 2016.

Earlier this month, Microsoft said it was in talks with ByteDance and the White House over a potential deal.

Last week, Trump ordered ByteDance to sell the US portion of TikTok within 90 days or face a ban.

Previously: Oracle in talks to acquire TikTok business, challenging Microsoft – FT (Aug 18, 2020)



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