TikTok closes deal to divest U.S. operations
TikTok on Thursday closed a deal to divest its U.S. entity to a joint venture controlled by American investors, the day before the Trump administration's executive order banning the app was set to kick in. Why it matters: The deal ends a yearslong saga to force TikTok's Chinese parent ByteDance to sell the company's U.S. operation to domestic owners to alleviate national security concerns.Zoom in: With the deal, U.S. tech giant Oracle, private equity firm Silver Lake and Abu Dhabi-based investme...
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