TikTok CEO Shou Zi Chew has announced a binding agreement to sell just over 80% of the app's US assets to a group of American and global investors. The buyer group includes US tech giant Oracle, private equity firm Silver Lake and Emirati investment firm MGX, while Beijing-based Bytedance and other existing investors will retain the remaining stake. The deal aims to address long-standing concerns regarding data privacy and Chinese control over the app's content algorithm.
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