Chinese social media platform 'TikTok' has reached an agreement with tech giant Oracle in the bid for its U.S. operations, beating Microsoft in a landmark deal that will set precedents between American and Chinese tech entities.
Tiktok is preparing to mount a legal challenge on Monday to US President Donald Trump's executive order banning transactions with the Chinese video app and its parent company ByteDance. They would also contest the White House's classification of them as a national threat.
President Donald Trump said he would ban Tiktok in the US, a decision met by negative reactions. But Microsoft says that they are discussing the matter with the president to possibly purchase the app from its Chinese owners.