TikTok signs US deal with 3 investors
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TikTok will now be owned by American investors including Oracle, Silver Lake and MGX under a new joint venture agreement in the US.
A deal made to divest ByteDance's ownership of TikTok in the US has been confirmed. It's expected to be signed in late January.
Oracle, Silver Lake, and MGX each secured 15% stakes in the newly formed JV, while ByteDance retains 19.9% ownership of what was once their crown jewel.
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A billionaire investor keen on buying TikTok's US operations has told the BBC he has been left in limbo as the latest deadline for the app's sale looms. The US has repeatedly delayed the date by which the platform's Chinese owner, ByteDance, must sell or be blocked for American users.