US President Donald Trump has announced his administration has finalised a deal transferring control of TikTok’s US operations to a consortium of American investors, a move that the White House describes as both a win for data security and a safeguard for the app’s millions of US users.

The agreement, signed through a presidential executive order on Thursday (local time), concludes months of negotiations between the Trump Administration, Chinese parent company ByteDance, and a group of American investors.

The deal with spin off TikTok’s US operations into a new joint venture with majority American ownership and an estimated valuation of $US14 billion ($21 billion)

“We have American investors taking it over, running it, highly sophisticated, including Larry Ellison at Oracle, I guess, is

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