Private equity firm Blackstone is evaluating taking a small minority investment in TikTok’s U.S. operations, according to two people familiar with the matter.
Blackstone is discussing joining ByteDance’s existing non-Chinese shareholders, led by Susquehanna International Group and General Atlantic, in a bid for TikTok’s U.S. business. The group has emerged as front-runners.
Their proposal entails spinning off TikTok’s U.S. operations into a separate entity and diluting Chinese ownership in the new business to below the 20 per cent threshold required by U.S. law.
