US government confirms receiving Oracle bid for TikTok

Ahead of a deadline set by President Donald Trump over video sharing app TikTok, US officials will evaluate a bid that could see American tech giant Oracle become a partner to a Chinese company that has been called a national security risk.

Treasury Secretary Steven Mnuchin confirmed on Monday Washington had received a bid from Oracle concerning TikTok’s American operations after the video-sharing app’s parent ByteDance rejected a proposal from Microsoft.

But key details about the deal were murky and it remained unclear whether the venture would pass muster with Washington regulators.