US President Donald Trump on Thursday signed an executive order clearing the way for TikTok to keep operating in the United States under a new US-led ownership structure. The deal, which still requires approval from Beijing, is designed to satisfy a 2024 national security law that threatened to ban the popular video app unless its Chinese parent company ByteDance sold off its US operations.

The plan calls for a new joint-venture company to run TikTok’s American business, with US and global investors taking the majority stake. Oracle, private equity firm Silver Lake, and Abu Dhabi-based MGX investment fund are expected to control roughly 45 per cent of the new entity. ByteDance investors would hold another 35 per cent, while ByteDance itself would retain less than 20 per cent.

Oracle will

See Full Page