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Blackstone drops out of consortium bid for TikTok US: Report
UNITED STATES, JUL 18 – Blackstone’s exit from the TikTok U.S. investment consortium highlights legal and political challenges amid national security concerns and ongoing deadline extensions, sources say.
- Blackstone has pulled out of a group of investors aiming to acquire a stake in TikTok’s U.S. business, adding to the growing doubts surrounding the agreement, as reported on Friday.
- The TikTok divestment deadline has been repeatedly postponed, with the latest move by Trump last month shifting the cutoff to September 17 amid broader U.S.-China trade talks.
- China signaled its opposition to the deal, partly in response to Trump's announcement of significant tariffs on Chinese products, leading to a pause in the negotiations.
- ByteDance, which generated $43 billion in revenue in the first quarter, plans to maintain a minority stake in a new U.S.-specific app owned by a joint venture with American investors.
- Blackstone’s withdrawal underscores the challenges and delays surrounding the TikTok deal, which continues to play a key role in the ongoing trade discussions between the U.S. and China, with Trump indicating he plans to discuss the matter with President Xi Jinping.
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Denver GazetteReposted by 
WTVB
WTVBExclusive-Blackstone drops out of consortium bid for TikTok US, source says
By Dawn Chmielewski and Krystal Hu
·Denver, United States
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This creates uncertainty as to how the social media app could go on in the future.
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Total News Sources21
Leaning Left5Leaning Right0Center5Last UpdatedBias Distribution50% Left, 50% Center
Bias Distribution
- 50% of the sources lean Left, 50% of the sources are Center
50% Center
L 50%
C 50%
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