The agreement will end years of uncertainty over the app’s future in the States, with Donald Trump and Joe Biden having both flirted with banning it.
The US and China have signed off on a deal for TikTok’s Chinese owner to hand over the company’s American division to investors backed by Donald Trump.
It means the US version of TikTok will become majority-owned by a group of investors that includes American tech giant Oracle, California-based private equity fund Silver Lake, and United Arab Emirates investment firm MGX.
The deal will ensure the video platform can continue operating in the US and comes just ahead of a takeover deadline set by the Trump administration that was extended several times.
In a December memo, TikTok said ByteDance – the social media app’s Chinese owner – will retain a 19.
