(Reuters) -Oracle, private equity firm Silver Lake and MGX are set to be the main investors in TikTok U.S. with a combined 45% ownership, CNBC reported on Thursday, citing sources.
TikTok, Oracle, Silver Lake and MGX did not immediately respond to a Reuters request for comment.
U.S. President Donald Trump is expected to sign a TikTok deal later on Thursday that would divest the app’s U.S. operations from Chinese owner ByteDance after months of uncertainty over its future in the country.
A White House official said earlier this week that investors in TikTok U.S. will include Oracle and Silver Lake, with ByteDance owning less than 20%.
The investor group will also include existing shareholders and global firms, the official said.
Reuters reported many of the details on Saturday.
The remaining 35% stake will be held by ByteDance investors, CNBC reported on Thursday.
(Reporting by Deborah Sophia in Bengaluru; Editing by Shailesh Kuber and Tasim Zahid)
Brought to you by www.srnnews.com