ByteDance won't sell TikTok US operations to Oracle or Microsoft: Report

ByteDance will not sell TikTok's US operations to Oracle Corp or Microsoft Corp and will not give the source code for the video platform to any US buyers, China's state-run English television channel CGTN reported on Monday, citing sources.

Read: Microsoft says its TikTok buyout offer rejected

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 US ban while appeasing the Chinese government.

ByteDance declined to comment on CGTN's report.

Also read: TikTok picks Oracle over Microsoft in Donald Trump-forced sales bid