With a deadline looming for TikTok's issue of either being sold or banned in the U.S., a potential deal is developing. The Biden administration is expected to announce a plan soon, possibly involving spinning off TikTok into a new entity with American investors to diminish Chinese ownership stakes. High-profile firms like Blackstone and Andreessen Horowitz may invest, while current investors would maintain stakes. Despite previous scrutiny, TikTok remains popular in the U.S., boasting over 170 million users.
The plan would be to spin out TikTok into a new company and bring on new American investors to reduce the ownership stakes of Chinese investors.
Two days before a deadline for TikTok to be sold, the contours of a deal are starting to shape amidst ongoing negotiations.
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