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Ivan Radic
The distribution of the US TikTok company's shares will be as follows: 45% will be allocated to the joint venture formed by Oracle, Silver Lake, and the Abu Dhabi-based fund MGX. Nearly a third will stay with the affiliates of the existing investors of the parent company ByteDance, and roughly 20% will be kept by ByteDance itself.
In September, China and the US reached an agreement on the deal's principles. Starting in 2020, US officials insisted that ByteDance divest the division, and in 2024, Congress enacted legislation warning of a ban on the app if this demand wasn't fulfilled.
Following the January ruling by the Supreme Court that affirmed the law, the administration of US President Donald Trump engaged in discussions to finalize the sale.
source: axios.com
In September, China and the US reached an agreement on the deal's principles. Starting in 2020, US officials insisted that ByteDance divest the division, and in 2024, Congress enacted legislation warning of a ban on the app if this demand wasn't fulfilled.
Following the January ruling by the Supreme Court that affirmed the law, the administration of US President Donald Trump engaged in discussions to finalize the sale.
source: axios.com
