Shafaq News – Washington
A consortium of American firms includingOracle, Silver Lake, and Andreessen Horowitz is moving to acquire TikTok’s USoperations, the Wall Street Journal reported on Tuesday.
According to the outlet, negotiationsbetween Washington and Beijing in Madrid outlined a framework for a new entity,with US investors expected to hold about 80% and Chinese shareholders theremainder.
The development coincided with US PresidentDonald Trump signing an order extending the deadline for ByteDance to divestTikTok’s US assets until December 16, granting the Chinese parent company 90additional days to complete the deal.
Talks are expected to conclude within 30 to45 days, with Oracle set to maintain its cloud services contract for theplatform, according to US media.
Read more: TikTok in Iraq: A battle between entertainment, ethics, and enforcement.
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