ByteDance investors seek to use stakes to finance TikTok bid
ByteDance investors are in talks to use their stakes in the Chinese technology firm to help finance their bid for its popular short-video app TikTok, according to people familiar with the matter.
ByteDance has been in talks to divest TikTok’s North America, Australia, and New Zealand operations to potential acquirers, including Microsoft and Oracle Corp.
President Donald Trump has ordered the Chinese company to sever ties with the social media app in the United States, citing concerns over the safety of the personal data it handles.
Some ByteDance investors, including investment firm General Atlantic, are vying to own large stakes in the TikTok assets for sale, the sources said. Under their restructuring plan, Microsoft or Oracle could receive a minority stake in the assets, the sources added.
The TikTok assets for sale could be worth between $25 billion and $30 billion, the sources said. To help fund their bid, the ByteDance investors are discussing exchanging some or all of their stakes in the Chinese company with equity in the TikTok assets, according to the sources
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