ByteDance shelves Oracle-TikTok deal for US operations: Report

Beijing: The exit of Donald Trump from the White House has reportedly led Beijing-based ByteDance to walk away from a deal to sell its popular short video-sharing platform TikTok’s US operations to a group led by Cloud major Oracle.

ByteDance lost interest in the deal after Joe Biden defeated Trump in the US presidential election, the South China Morning Post reported, citing an unnamed source.

However, this does not mean that the talks with the US government are over. ByteDance is now exploring a new structure for its operations in the US, said the source-based report.