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National Security

TikTok enters investor agreements to protect against US ban

TikTok’s Chinese owner ByteDance have said it has entered agreements with US and on Chinese investors to operate its business in the US.

The move is said to have Washington and Beijing’s support.

The agreements mean half of the new venture will be owned by a group of investors including Oracle, Silver Lake and Emirates-based MGX, according to sources quoting chief executive officer Shou Zi Chew.

The agreement is expected to end repeated bipartisan efforts by successive US governments to force ByteDance to sell its US operations for national security reasons.

Photo credits: ByteDance

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TikTok’s Chinese owner ByteDance have said it has entered agreements with US and on Chinese investors to operate its business in the US.

The move is said to have Washington and Beijing’s support.

The agreements mean half of the new venture will be owned by a group of investors including Oracle, Silver Lake and Emirates-based MGX, according to sources quoting chief executive officer Shou Zi Chew.

The agreement is expected to end repeated bipartisan efforts by successive US governments to force ByteDance to sell its US operations for national security reasons.

Photo credits: ByteDance