ByteDance will not sell TikTok's U.S. operations to Oracle Corp or Microsoft Corp and 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 in hopes of avoiding a U.S. ban while appeasing the Chinese government.
ByteDance declined to comment on CGTN's report.
