Trump-backed investors finalise TikTok deal

Group 1 - The US and China have reached an agreement for TikTok's Chinese owner, ByteDance, to transfer the American division to investors associated with Donald Trump, including Oracle, Silver Lake, and MGX [1][2] - The deal allows TikTok to continue its operations in the US, following a series of deadline extensions set by the Trump administration [2] - ByteDance will maintain a 19.9% stake in the US operations, while Oracle, Silver Lake, and MGX will each hold a 15% stake, with Adam Presser as the joint venture's chief [3] Group 2 - The agreement resolves years of uncertainty regarding TikTok's future in the US, particularly after a law was enacted in 2024 mandating the sale of TikTok's US operations or facing a ban [3] - Concerns from US politicians about potential data sharing with the Chinese government have been a significant factor in the negotiations, despite ByteDance's denials [4][8] - TikTok has over 150 million active users in the US, making Americans its largest user base, which has influenced the decision to allow the platform to continue operating [6]