TikTok Sale Gains Momentum as Trump Signs Executive Order Approving Deal

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U.S. President Donald Trump today signed an executive order approving a deal that would see TikTok’s U.S. operations largely sold off, reports CNBC. The deal would allow TikTok to comply with U.S. law requiring the social media service to be sold to a non-Chinese company or be banned from operating in the country.

TikTok on iPhone
A joint-venture company that includes Oracle, Silver Lake, and Abu-Dhabi-based MGX investment fund will oversee TikTok’s U.S. operations, with TikTok parent company ByteDance retaining less…



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TikTok Sale Gains Momentum as Trump Signs Executive Order Approving Deal


U.S. President Donald Trump today signed an executive order approving a deal that would see TikTok’s U.S. operations largely sold off, reports CNBC. The deal would allow TikTok to comply with U.S. law requiring the social media service to be sold to a non-Chinese company or be banned from operating in the country.

TikTok on iPhone
A joint-venture company that includes Oracle, Silver Lake, and Abu-Dhabi-based MGX investment fund will oversee TikTok’s U.S. operations, with TikTok parent company ByteDance retaining less…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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