TikTok picks Oracle over Microsoft as preferred US buyer

TikTok has chosen Oracle as its preferred US buyer (AP)

The owner of TikTok has chosen Oracle over Microsoft as its preferred suitor to buy the popular video-sharing app, according to a source familiar with the deal.

Microsoft announced on Sunday that its bid to buy TikTok had been rejected, removing a leading prospective buyer for the Chinese-owned app a week before President Donald Trump promises to follow through with a plan to ban it in the US.