TikTok US will be valued at around $14bn under Donald Trump’s deal to force a split from the social media app’s Chinese parent, vice-president JD Vance said on Thursday.
Vance was speaking as the president signed an executive order in the Oval Office to approve the agreement and provide a 120-day window to finalise the details.
Oracle, private equity group Silver Lake and Abu Dhabi’s MGX will control roughly 45 per cent of TikTok US, according to people familiar with the matter. TikTok’s owner ByteDance will own 19.9 per cent.
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