TikTok announces it has finalized deal to establish US entity, sidestepping ban
Majority US-owned venture includes Larry Ellison’s Oracle, private-equity group Silver Lake and Abu Dhabi’s MGXTikTok announced on Thursday that it had closed a deal to establish a new US entity, allowing it to sidestep a ban and ending a long legal battle.The deal finalized by ByteDance, TikTok’s Chinese owner, sets up a majority American-owned venture, with investors including Larry Ellison’s Oracle, the private-e…
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