TikTok maker ByteDance wouldn't want to sell the app to an American company anyway, because Donald Trump is no longer president of the United States.
A source has told the Chinese newspaper
South China Morning Post
Last week it became clear that the deal between TikTok and Oracle had been shelved.
Now it is claimed that the sale will not go through at all.
Trump tried to ban the popular video app in the United States during his presidency.
He feared that Chinese intelligence services were misusing the app to spy.
Several judges rejected the proposed ban.
The then president was willing to renounce the ban if an American company was allowed to take over TikTok's operations in the country.
Software company Oracle turned out to be willing to buy the social network.
"That deal was designed to meet the demands of Trump's government," the source said.
"Now that he's gone, the reason for the deal has also disappeared."
According to the source, one of the founders of Oracle was a Trump supporter, which is said to have nominated the company.
ByteDance would consider a new approach in the United States.
By retaining data in US data centers, the company hopes to avoid further criticism from the country.