SoftBank Mulls Getting Involved in TikTok Sale: Report
Silicon Valley, Aug. 26 (Jiji Press)--SoftBank Group Corp. <9984> has been discussing getting involved in a sale of the U.S. business of China's TikTok video-sharing service, The Information, a U.S. technology media firm, reported Wednesday.
It is not clear whether the Japanese tech investor is exploring teaming up with another entity on an existing bid or creating a new effort, The Information said.
Microsoft Corp. has said it is looking to acquire TikTok's U.S. business. Oracle Corp. is also reportedly attempting to buy it. Companies are expected to make offers later this week.
SoftBank is a minority shareholder in TikTok owner ByteDance. The Japanese company is unlikely to lead a deal as President Donald Trump has been seeking a sale to a U.S. firm, citing national security concerns.
[Copyright The Jiji Press, Ltd.]