President Donald Trump on Thursday signed an executive order that allows TikTok's U.S. operations to be moved away from the social media app's China-based owner ByteDance.

The deal will see TikTok's U.S. operations separated from ByteDance to comply with a law that bans social media platforms subject to control by adversarial foreign governments like China.

A group led by software giant Oracle that includes private equity firm Silver Lake and UAE state-owned investment firm MGX will be the main investors in TikTok U.S., with a combined 45% ownership stake, according to a report by CNBC citing sources familiar with the matter.

The White House previously indicated Oracle and Silver Lake would be among the main owners of TikTok U.S. Earlier this week, a White House official said

See Full Page