San Francisco — Oracle, the world’s second-largest software maker, is weighing a surprise bid for part of TikTok’s business, seeking to rival Microsoft in the race to acquire the viral video streaming app, according to people familiar with the matter.

The company, controlled by billionaire Larry Ellison, has made a preliminary approach to other parties, including the venture capital firm Sequoia Capital, to partner with it in a bid for the app’s operations in the US, Canada, Australia and New Zealand, the people said, asking not to be identified...

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