The U.S. and China have signed off on a deal to sell TikTok’s U.S. business to a consortium of mostly U.S. investors led by Oracle and Silver Lake, capping off a yearslong battle between the social media app and the two superpowers.
The deal — outlined by the chief executive of TikTok parent ByteDance in an internal memo last month — is set to close this week, people familiar with the matter told Semafor.
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