President Donald Trump will consider a proposal for divesting TikTok’s U.S. operations from ByteDance, just days ahead of a deadline for a sale of the app, Stephanie Lai and Josh Wingrove of Bloomberg report, citing people familiar with the matter. The administration is considering a deal that would include Oracle (ORCL) and Blackstone (BX) and potentially other investors in a joint venture, Bloomberg’s sources added. Companies in the social media space that compete with TikTok include Meta (META), Alphabet’s (GOOG) YouTube (GOOGL), Pinterest (PINS), Reddit (RDDT) and Snap (SNAP).
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