By Echo Wang, Keith Zhai and Joshua Franklin
(Reuters) - ByteDance founder and CEO Yiming Zhang's decision to drop his pursuit of a sale of TikTok's U.S. operations to Microsoft Corp <MSFT.O> in favor of a partnership with Oracle Corp <ORCL.N> was the culmination of weeks of pressure from China's government and the Beijing-based firm's investors, according to people familiar with the deliberations.
China's opposition to a forced sale of TikTok, as well as concerns by major ByteDance backers such as Sequoia and General Atlantic over the financial hit of selling the popular short-video app in the United States for less than what it is worth, led Zhang to opt for the sale of only a stake to Oracle, rather than an outright divestment, the sources said.
It is a risky strategy. President Donald Trump has made it clear he wants to see an outright sale ...
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