Oracle, Walmart, other US investors set to own majority stake in TikTok Global

Oracle, Walmart, other US investors set to own majority stake in TikTok Global

FILE PHOTO: TikTok logos are seen on smartphones in front of a displayed ByteDance logo in this illustration taken Nov. 27, 2019. REUTERS/Dado Ruvic

US investors, including Oracle Corp, are set to hold at least a 60% stake in TikTok, a person briefed on the matter told Reuters.

The US Treasury submitted a revised term sheet to ByteDance late Wednesday to address national security concerns that was agreed to by the Chinese parent of TikTok, the source said.

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