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TikTok Signs Deal to Sell US Unit to American Investor-Led Venture

The deal, set to close ‍on ​Jan. 22, would end years ‍of efforts to force the app’s ⁠Chinese parent ByteDance ‍to divest its US business over national security ‍concerns.
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Oracle, Silver Lake ‍and Abu ‌Dhabi-based MGX will collectively ‌own 45 percent of ​the ‍new entity. (Getty Images)

ByteDance’s TikTok has signed a deal to sell its US entity to a ⁠joint venture controlled by American ⁠investors, according to a memo from TikTok CEO seen by Reuters.

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