Oracle beats Microsoft in race for TikTok US

Oracle Corp. edged out rival Microsoft Corp. in negotiations over the weekend for the US operations of TikTok, moving closer toward a deal for the Chinese-owned music-video app that could thwart a threat by US by President Donald Trump to shut it down.

A deal between TikTok owner ByteDance Ltd and Oracle will look more like a corporate restructuring than the outright sale Microsoft had proposed, though it is likely to include a stake in a newly configured American business, according to a person familiar with the negotiations who asked not to be identified as the information isn’t public.