US investors to take control of TikTok under draft deal
Shafaq News – Washington
A consortium of American firms including Oracle, Silver Lake, and Andreessen Horowitz is moving to acquire TikTok’s US operations, the Wall Street Journal reported on Tuesday.
According to the outlet, negotiations between Washington and Beijing in Madrid outlined a framework for a new entity, with US investors expected to hold about 80% and Chinese shareholders the remainder.
The development coincided with US President Donald Trump signing an order extending the deadline for ByteDance to divest TikTok’s US assets until December 16, granting the Chinese parent company 90 additional days to complete the deal.
Talks are expected to conclude within 30 to 45 days, with Oracle set to maintain its cloud services contract for the platform, according to US media.
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