President Trump may have cut a deal to save TikTok from extinction in the US – but investors shouldn’t expect to cash in on a lucrative initial public offering anytime soon, On The Money has learned.

That’s the consensus from people inside the US investment group as they put the finishing touches on a new company that President Trump says satisfies a law that bans the app domestically unless it removes all vestiges of control by its Chinese parent, Bytedance.

The law was meant to prevent the Chinese government from using the short-video app for spycraft. President Trump, once a TikTok critic, did a remarkable about-face after he came to believe pro-MAGA videos helped him win over a major chunk of TikTok’s user base, which is dominated by people under the age of 25. After President

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