TikTok signs Trump-backed deal to sell US entity to American investors

Deal will allow app to continue operating in US as Elizabeth Warren condemns Trump and his ‘billionaire buddies’

The deal is expected to close on 22 January, according to an internal memo seen by the Associated Press and Reuters.

TikTok has signed a deal to sell its US business to three American investors — Oracle, Silver Lake and MGX — ensuring the popular social video platform can continue operating in the United States.

The deal is expected to close on 22 January, according to an internal memo seen by the Associated Press and Reuters. The TikTok chief executive officer, Shou Zi Chew, said in the memo that ByteDance and TikTok have signed binding agreements with the three investors.