TikTok Signs Deal To Sell US Unit To American Investor-Led Venture
Oracle, Silver Lake and Abu Dhabi-based MGX will collectively own 45% of the new entity. ByteDance’s TikTok has signed a deal to sell its US entity to a joint venture controlled by American investors, according to a memo from TikTok CEO seen by Reuters. The deal, set to close on January 22, would end years…