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Several current US-based investors in TikTok’s Chinese parent ByteDance are reportedly looking to join Larry Ellison’s Oracle in a potential deal for the video-sharing app to soothe national security concerns –and avoid the looming ban.
General Atlantic, Susquehanna, KKR and Coatue could “acquire additional stakes” in a spun-off version of TikTok’s US business, The Financial Times reported Friday, citing multiple sources familiar with the negotiations.
The firms would attempt to buy out Chinese investors as part of a deal, the sources said.
Oracle, which already serves as a key cloud-computing partner for TikTok, would also take an ownership stake in the US entity and help ensure the data of more than 170 million American users is secure as part of the President Trump-backed deal.
China-based ByteDance would seek to keep an ownership stake in a reformed TikTok US entity, one source told the outlet.
That could be a sticking point for Congress, which passed a law requiring ByteDance to divest in order to ensure the Chinese Communist Party couldn’t exploit the app for its own ends.
TikTok, General Atlantic, Susquehanna and Coatue did not immediately return requests for comment on the report. KKR declined to comment.
A White House official told The Post that no decision has been on a TikTok deal.
President Trump has until April 5 to find a buyer for TikTok after he issued an executive order after returning to the White House delaying enforcement of Congress’s ban by 75 days.
Congress’s ban briefly took effect after ByteDance failed to meet the Jan. 19 divestment deadline.
Congress and the Justice Department have said that TikTok, led by CEO Shou Zi Chew, is effectively a tool for the Chinese Communist Party, capable of spying on American users and subtly influencing public opinion through its recommendation algorithm. The company has denied the allegations.
Trump has vowed to “save” the app and said he wants the US to take a 50% ownership stake in the app. Aside from Trump, any deal would have to be approved by China, which has said it will not sell the app’s recommendation algorithm.
Oracle is reportedly set to play a leading role in any TikTok sale.
The company previously collaborated with ByteDance on “Project Texas” – a failed attempt to convince Congress that the app was safe because American user data was stored on Oracle’s US servers.
Under the potential deal alongside key US investors, Oracle would once again pledge to ensure the app is safe – but allow ByteDance to continue to oversee its algorithm, the FT said.
Trump has tapped Vice President JD Vance to spearhead deal talks and recently said his administration was talking to “four different groups” who were interested in TikTok.
The president has also said that he wants Ellison and Oracle to be involved in a deal.
In January, Bill Ford, the CEO of General Atlantic and a ByteDance board director, hinted that there were options “short of divestiture” that could satisfy US authorities.
Still, The Trump administration could face an uphill battle to convince Congress to accept a deal if ByteDance remains involved in TikTok’s operations.
As The Post’s “On The Money” reported earlier this week, Sen. Tom Cotton, who leads the Senate Intel Committee, is a key obstacle.
Cotton has told Trump officials that he won’t sign off on any deal that doesn’t comply with the law, which requires complete divestment of Chinese control and ownership of TikTok.