Private equity giant Blackstone has withdrawn from a consortium that was seeking to invest in TikTok's U.S. operations. This decision marks Blackstone's exit from a high-profile potential deal involving the popular social media app.
Blackstone had been evaluating making a small minority investment and was discussing joining ByteDance's existing non-Chinese shareholders in contributing fresh capital. The withdrawal comes amidst ongoing regulatory scrutiny and political complexities surrounding TikTok's ownership.
While the specific reasons for Blackstone's withdrawal were not disclosed, it indicates a strategic decision regarding the terms or risks associated with the potential investment. This move may impact the remaining consortium's efforts to finalize a deal for TikTok's U.S. business.
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