How TikTok Deal Would Resolve Saga Over Its US Operation
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000TikTok:The yearslong saga over the future of TikTok’s American operations could finally be nearing a conclusion. The social media platform says its US arm is being bought by a consortium led by Oracle Corp., aligning with the deal outlined by the Trump administration in September.The sale is to comply with a national security law signed in 2024 by then-President Joe Biden — the Protecting Americans from Foreign Adversary Controlled Applications Act — which mandates that Chinese owner ByteDance Ltd. reduce its ownership of TikTok US to less than 20%.