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Investing.com -- The investor group President Donald Trump referenced as a potential buyer for TikTok’s US operations is the same consortium that previously attempted to purchase the app earlier this year, according to Bloomberg, citing a person familiar with the matter.
The group includes Oracle Corp (NYSE:ORCL)., Blackstone (NYSE:BX) Inc., and venture capital firm Andreessen Horowitz. Their earlier acquisition attempt stalled in April amid escalating US-China trade tensions, the source confirmed.
In an interview aired Sunday on Fox News, Trump mentioned he had identified a potential buyer for the popular social media platform but did not disclose specific names. He indicated that any successful deal would require approval from the Chinese government, including President Xi Jinping, who has previously opposed such a sale.
The previous negotiations reportedly broke down after China withheld its approval following Trump’s decision to impose new tariffs. ByteDance Ltd., TikTok’s Chinese parent company, had been close to reaching an agreement with the consortium before talks halted.
The revival of these discussions comes as TikTok continues to face scrutiny in the United States over data security concerns related to its Chinese ownership.
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