The TikTok saga in the US might finally have an exit strategy. According to an internal memo from ByteDance boss Shou Zi Chew, the parent company has locked down binding deals with a specific investor group to create a new American joint venture. Partners in this consortium are Oracle, the investment firm Silver Lake, and MGX from Abu Dhabi. The whole setup is supposed to be finalized soon, aiming to let the app keep functioning stateside.
Under this planned structure, ByteDance itself would keep a minority stake. Oracle, Silver Lake, and MGX would each grab fifteen percent of the new US entity. Other existing ByteDance investor affiliates would get another chunk, bringing outside ownership to exactly fifty percent when some other...