ByteDance won't sell TikTok U.S. operations to Microsoft or Oracle

ByteDance will not sell TikTok's U.S. operations to Oracle Corp ORCL.N or Microsoft Corp MSFT.O.

It will not give the source code for the video platform to any U.S. buyers, China's state-run English television channel CGTN reported on Monday, citing sources.

People familiar with the matter told Reuters that ByteDance abandoned the sale of TikTok in the United States and decided to pursue a partnership with Oracle to avoid a U.S. ban while appeasing the Chinese government.

ByteDance declined to comment on CGTN's report.