Oracle, Silver Lake consortium to control 80% stake in TikTok in US, WSJ reports

(Reuters) -TiKTok’s US operations, Oracle, Silver Lake and Andreessen Horowitz will be controlled by the Consortium of the United States and China under a finalized framework, Wall Street Journal, referring to people on Tuesday.

In the report, a new company will be created to operate Tiktok, US investors with approximately 80% shares and Chinese shareholders with the rest. The company would also have a member of the US government and an American sovereign committee.

Post will be asked to switch to a new application built and tested by Tiktok’s existing users.

In July, Reuters reported that Tiktok was preparing to start an independent application for US users who are expected to work on an algorithm and data system separately from global application.

WSJ, Oracle’ın Texas facilities will address user data, and the United States and China are still working on the details of the potential agreement, the terms can change, he added.

Tiktok, Oracle, Silver Lake and A16z, also known as A16z, did not immediately respond to Reuters’ requests for comments.

WE President Donald Trump On Tuesday, he signed an executive order that delayed the implementation of the 2024 law, which required the disposal of China Tiktok until 16 December.

In the early hours of the day, Tiktok announced an agreement between the US and China to operate in the USA.

(Reporting by Juby Babu at Mexico City;