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US Finalizes TikTok Sale
- The United States finalized a deal to sell TikTok's U.S. operations to a consortium led by Oracle and Silver Lake, with closure expected this week.
- ByteDance retains a minority stake.
- Oracle will serve as the security partner for the new entity.
- Reports indicate the TikTok app may be discontinued in the U.S., requiring users to transition to a new platform.
- The negotiations originated under U.S. President Donald Trump in 2020.
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