Donald Trump is getting ready to review a final proposal that will determine the fate of TikTok before the app either gets acquired by non-Chinese buyers or faces a ban in the US.
US Vice President J.D. Vance, Commerce Secretary Howard Lutnick, National Security Advisor Mike Waltz, and National Intelligence Director Tarsi Gabbard will convene in the oval office on Wednesday to discuss the matter, as reported by Reuters.
In the closely watched sale of TikTok, the White House is acting as an investment bank with Vance leading an auction.
Private equity firm Blackstone is in talks regarding the involvement of current non-Chinese shareholders of Baitedan, spearheaded by Susquehanna International Group and Atlantic General.
Trump stated that a deal with ByteDance to sell the video-sharing app used by 170 million Americans will be finalized before the deadline on Saturday.
Trump is gearing up to announce global tariffs on what he’s calling “liberation day” on Wednesday. He expressed willingness to reduce China’s tariffs to seal the TikTok deal last week.
Trump had set a deadline for TikTok to secure non-Chinese buyers by January or face a US ban on national security grounds, as per the law enacted in 2024.
US venture capital firm Andreessen Horowitz is reportedly discussing an investment in TikTok as part of an effort led by Trump to gain control of the app, according to the Financial Times.
Mark Andreessen, a Silicon Valley luminary and co-founder of Andreessen Horowitz, is in talks to bring in new external investments to acquire TikTok’s Chinese investors alongside Oracle and other American investors in a bid to separate it from its parent company, as per the FT report.
Blackstone is said to value TikTok’s US business as a small minority investment.
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Discussions about TikTok’s future involve plans to raise stakes and acquire clauses to outbid the major Chinese investors to secure the US business for short video apps, as reported by Reuters.
Last month, Trump mentioned that his administration is in talks with four different groups regarding potential deals with TikTok in the future.
TikTok and Andreessen Horowitz have yet to respond to Reuters’ request for comment.
Source: www.theguardian.com
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