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Oracle wins bid for TikTok

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Oracle beat Microsoft in its bid for the U.S. operations of TikTok, according to media reports.

TikTok is set to be named TikTok's trusted technology partner, a source familiar with the matter told The Wall Street Journal. Microsoft confirmed in a statement to MarketWatch that TikTok owner ByteDance did not accept its offer.

President Donald Trump, who has threatened to shut down TikTok's U.S. operations unless they're sold to an American company, previously issued his support for Oracle.

Read more from MarketWatch.

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