Trump's TikTok deal will give control to a group of US investors, report says

1 month ago 4

The plan to "save" TikTok is starting to come into focus. On Tuesday The Wall Street Journal reported more details about a deal between the US and China as the two sides are apparently "finalizing" specifics of the arrangement.

According to the report, TikTok's US business will be owned primarily by a group of US investors, which will have a "roughly" 80 percent stake in the entity. The group includes longtime TikTok partner Oracle, as well as Silicon Valley VC firm Andreesen Horowitz and the private equity firm Silver Lake. Chinese shareholders will have a minority stake that keeps their ownership under the 20 percent threshold required by law. The US government will also reportedly get to choose one board member for the "American-dominated" body.

Reports about such an arrangement have been swirling for months, with President D...

Source: https://www.engadget.com/social-media/trumps-tiktok-deal-will-give-control-to-a-group-of-us-investors-report-says-201331190.html?src=rss

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