The biggest investors in TikTok's parent company ByteDance are exploring a deal to acquire additional stakes in the popular social media platform's US division to ensure it is free of Chinese control, the Financial Times reported citing sources.
People familiar with the talks mentioned General Atlantic, Susquehanna, KKR, and Coatue as companies interested in increasing their TikTok shares alongside Oracle which has also been mentioned as a key contender to run the platform.
On the other hand, ByteDance would maintain the stake in TikTok but other details of the deal remain fluid, the sources said. If TikTok doesn't sell its US arm to non-Chinese investors by April 5, the app will be forced to shut down according to federal law.
