The Brief

WASHINGTON - President Donald Trump on Thursday signed an executive order allowing a deal which will put TikTok under U.S. ownership.

Chinese President Xi Jinping "gave us the go-ahead" to proceed with the deal, according to Trump.

Who will take over TikTok U.S.?

Dig deeper:

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 that ByteDance would own less than 20% of the firm, while existing shareholders

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