"It was not clear from his remarks precisely whether that was the actual valuation of the U.S. business, or the purchase price investors are paying for a stake in the new entity, or something else - and he also indicated it wasn't necessarily final, either. "Ultimately the investors are going to make the determination about what they want to invest in, and what they think is a proper value," Vance said."
"Catch up quick: Trump said last week there was a deal in place with China for the sale of TikTok's U.S. operations to an investor group. Officials have said Americans would hold six of seven board seats, with a new algorithm (based on the existing TikTok one) leased from parent company ByteDance and under U.S. control. It's still not clear what the ownership structure of the new entity will be."
"It's still not clear what the ownership structure of the new entity will be. CNBC reported earlier Thursday that the primary investors would be Oracle, private equity firm Silver Lake, and the Abu Dhabi government investment vehicle MGX. Trump said last weekend, and again Thursday, that he expected Rupert Murdoch and Michael Dell to be part of the investor group."
A proposed agreement would transfer TikTok's U.S. operations to an investor group while many deal terms remain private. Vice President Vance suggested a valuation near $14 billion but did not clarify whether that figure referred to the U.S. business, investor purchase price, or another measure, and he said it was not necessarily final. Vance added that investors will decide what to invest and the proper valuation. Officials indicated Americans would hold six of seven board seats and that a new algorithm, based on the existing TikTok algorithm, would be leased from ByteDance and remain under U.S. control. Reported primary investors include Oracle, Silver Lake, and Abu Dhabi's MGX, with Rupert Murdoch and Michael Dell cited as expected participants.
Read at Axios
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