Oracle is said to win deal with TikTok’s US operations

ByteDance Ltd., TikTok’s parent, rejected Microsoft’s previous bid to buy TikTok’s U.S. Operations. A deal with Oracle is narrower, appearing more like a corporate restructuring than an outright sale, this person said.

Early offers from both parties valued the U.S. business at about $25 billion, but that was before Chinese officials weighed in with new rules imposing limits on technology exports, and the terms may have also changed, the people said, asking not to be identified as the information isn’t public.