The US and China have agreed for TikTok’s Chinese owner to transfer its American division to a group of investors led by Oracle, Silver Lake, and MGX, ensuring the platform’s continued operation in the US. ByteDance will retain a 19.9% stake in US operations, with Silver Lake, Oracle, and MGX each holding a 15% stake. The deal resolves concerns over data sharing and manipulation by Chinese authorities, allowing TikTok to maintain its large American user base. Despite past threats of a ban, the platform will remain accessible in the US, while other countries consider similar measures for social media use by minors.
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