US govt confirms receiving Oracle bid for TikTok

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The US government has received a bid from Oracle for TikTok?s American operations after the video-sharing app?s parent ByteDance rejected a proposal from Microsoft, Treasury Secretary Steven Mnuchin said Monday. Mnuchin told CNBC his office received the proposal involving Oracle over the weekend and said the bid would be handled by a government panel that reviews foreign transactions for national security concerns.

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