Blackstone Exits TikTok US Acquisition Consortium
By ScanX News Team
Blackstone Inc. has withdrawn from the consortium seeking a minority stake in TikTok's US operations, transferring its potential stake to other members. The remaining key players in the group include Oracle Corp, Andreessen Horowitz, and General Atlantic. A 90-day extension has been granted for finalizing the deal, with the new deadline set for mid-September. The consortium now faces the task of restructuring their bid and potentially redistributing Blackstone's stake.
*this image is generated using AI for illustrative purposes only.
Blackstone Inc. , a leading global investment firm, has made a significant move by withdrawing from the consortium of investors seeking a minority stake in TikTok's US operations. This development marks a shift in the ongoing saga surrounding the popular social media platform's future in the United States.
Consortium Reshuffling
The private equity giant has opted to transfer its potential stake to other members of the consortium. The remaining key players in the group include:
- Oracle Corp
- Andreessen Horowitz
- General Atlantic
This consortium had previously been identified by former President Donald Trump as a potential buyer that would enable TikTok to continue its operations in the US while separating from its Chinese parent company, ByteDance Ltd.
Deal Extension
The Trump administration had previously set a deadline for finalizing the deal. However, a 90-day extension has been granted, pushing the expiration date to mid-September. This extension provides additional time for the consortium to navigate the complex negotiations and regulatory landscape surrounding the acquisition.
Implications and Next Steps
Blackstone's withdrawal from the consortium raises questions about the dynamics of the potential deal. While the reasons for Blackstone's exit have not been disclosed, the move could potentially impact the structure and valuation of the proposed acquisition.
The remaining consortium members now face the task of restructuring their bid and potentially redistributing the stake that Blackstone was set to acquire. As the mid-September deadline approaches, all eyes will be on the consortium's ability to finalize the deal and address the concerns raised by the US government regarding TikTok's ownership and data security.
The outcome of this high-profile negotiation could have far-reaching implications for international technology investments and data privacy regulations in the United States.
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