Oracle confirms it's a part of proposal by TikTok-parent ByteDance

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(Reuters) – Oracle Corp confirmed on Monday that it was a part of a proposal made by TikTok-parent ByteDance to the U.S. govt to change into a automation accomplice for the Chinese agency.

Treasury Secretary Steven Mnuchin stated earlier within the day that the Trump administration acquired a proposal from Oracle over the weekend to make Chinese-owned brief video app TikTok a U.S.-headquartered firm and can assessment the plan this week.

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(Reporting by Neha Malara and Munsif Vengattil in Bengaluru; Editing by Sriraj Kalluvila)

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[Attribution Business Standard.]

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