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ByteDance’s Substantial Shareholder: Deal May be Sealed This Weekend for TikTok Staying in US
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ByteDance’s substantial shareholder General Atlantic had its CEO Bill Ford said he was confident that an agreement can be reached to allow TikTok to stay in the US, and said there may be options that do not require divestment. He said it was in everyone's interest to seal a deal and that the company was committed to securing one, perhaps as soon as the end of this week, contingent on how the negotiations went. The Chinese and American governments, the companies and board of directors were all involved in the discussion, and that there are clauses that do not require divestiture and sales, which will satisfy the requirements of the US authorities. But he didn't elaborate on it. Institutional investors such as General Atlantic and BlackRock (BLK.US) hold a 60% stake in ByteDance, whereas senior management and employees each hold a 20% stake. AAStocks Financial News |
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