Oracle (ORCL) and US investors in TikTok parent ByteDance are working on a deal to assure President Donald Trump that the app operates independently of Chinese control, the Financial Times reported Friday.
Under the plan, existing ByteDance investors, including General Atlantic, Susquehanna, KKR (KKR), and Coatue, aim to increase their stakes in a TikTok US spinoff, while Oracle may take a minority stake and oversee the security of US user data, the report said, citing people familiar with the matter.
Oracle, KKR, General Atlantic, Susquehanna, KKR, and Coatue didn't immediately respond to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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