Oracle shifted $30bn from Bermuda-based subsidiary to Irish firm ahead of TikTok deal
US tech firm transferred money last year as it prepared to take over Chinese-owned social network TikTok
Oracle, the US tech firm, shifted tens of billions of dollars from a Bermuda-based subsidiary into its main Irish holding company in 2020 as it plotted to take over TikTok, the social network.
Last September, Oracle was selected as the bidder for the US operations of TikTok. ByteDance, the Chinese-based owner of TikTok, was pressured into a sale deal after the Trump administration said the company’s US business had to be sold. Last month, the Biden...
Subscribe from just €1 for the first month!
All Digital Access + eReader
Unlimited Access for 1 Month, €19.99 Monthly thereafter
*New subscribers only
€149 For the 1st Year
Unlimited Access for 1 Year
90 Day Pass
Unlimited Access for 2 Years
Get a Business Account for you and your team
Delivery drones to replace gig-economy cyclists, says Manna Aero founder
Bobby Healy says bicycle deliveries jobs lead to a high number of accidents and are ‘not good for the person doing it’
Nokia Ireland reports 27% profits decline and job cuts
The telecom giant reduced its workforce here by 9 per cent in 2019