TikTok US Business Sale Approved by China and US
- The sale of TikTok’s US business to a consortium led by Oracle and Silver Lake has received approval from both China and the US.
- This transaction resolves a protracted regulatory dispute, restructuring TikTok’s US operations under predominantly American ownership.
- Oracle, Silver Lake, and MGX, a UAE state-owned firm focused on AI, will each acquire a 15% stake.
- ByteDance will retain less than 20% of the US business as part of the agreement.
- The new entity will oversee data protection, content moderation, and algorithm security with governance by an American-majority board.
The approved sale of TikTok’s US business to Oracle and partners marks the resolution of a lengthy regulatory issue, with ByteDance retaining under 20% ownership. The deal ensures that data protection and content moderation are managed within the US.
Source (3.2)https://cryptobriefing.com/tiktok-us-sale-oracle-silver-lake/?rand=59535
