ByteDance investors to use stakes to finance TikTok bid

ByteDance investors are in talks to use their stakes in the Chinese technology firm to help finance their bid for its popular short-video app TikTok, according to people familiar with the matter.

ByteDance has been in talks to divest TikTok’s North America, Australia and New Zealand operations to potential acquirers, including Microsoft Corp and Oracle Corp. President Donald Trump has ordered the Chinese company to sever ties with the social media app in the United States, citing concerns over the safety of the personal data it handles.

Some ByteDance investors, including investment firm General Atlantic, are vying to own large stakes in the TikTok assets for sale, the sources said. Under their restructuring plan, Microsoft or Oracle could receive a minority stake in the assets, the sources added.