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26-01-2025, 09:17 PM
Reuters reported that two people with knowledge of the discussions said Trump’s administration is working on a plan to save TikTok that involves tapping software company Oracle ORCL.N and a group of outside investors to effectively take control of the app’s operations.
Under the deal being negotiated by the White House, TikTok’s China-based owner, ByteDance, would retain a stake in the company, but data collection and software updates would be overseen by Oracle, which already provides the foundation of TikTok’s web infrastructure, one of the sources told Reuters.
The deal being negotiated anticipates participation from ByteDance’s current U.S. investors, according to the sources. Jeff Yass’s Susquehanna International Group, General Atlantic, Kohlberg Kravis Roberts (KKR), and Sequoia Capital are among ByteDance’s U.S. backers.
Others vying to acquire TikTok, including the investor group led by billionaire Frank McCourt and another involving Jimmy Donaldson, better known as the YouTube star Mr. Beast, are not part of the Oracle negotiation, one of the sources said.
https://al24news.com/en/trump-in-talks-w...n-30-days/
Under the deal being negotiated by the White House, TikTok’s China-based owner, ByteDance, would retain a stake in the company, but data collection and software updates would be overseen by Oracle, which already provides the foundation of TikTok’s web infrastructure, one of the sources told Reuters.
The deal being negotiated anticipates participation from ByteDance’s current U.S. investors, according to the sources. Jeff Yass’s Susquehanna International Group, General Atlantic, Kohlberg Kravis Roberts (KKR), and Sequoia Capital are among ByteDance’s U.S. backers.
Others vying to acquire TikTok, including the investor group led by billionaire Frank McCourt and another involving Jimmy Donaldson, better known as the YouTube star Mr. Beast, are not part of the Oracle negotiation, one of the sources said.
https://al24news.com/en/trump-in-talks-w...n-30-days/
