US investors, companies set to own majority stake in TikTok U.S. operations

WASHINGTON: U.S. investors and companies, including Oracle Corp, are set to hold at least a 60% stake in TikTok’s U.S. operations, a person briefed on the matter told Reuters, a move that could help ease concerns raised about the deal by U.S. President Donald Trump.

The U.S. Treasury submitted a revised term sheet to ByteDance late Wednesday to address national security concerns that was agreed to by the Chinese parent of TikTok, the source said.