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Existing ByteDance investors emerge as front-runners in TikTok deal talks, sources say

News Snapshot:

Open this photo in gallery: According to legal filings from TikTok last year, global investors own about 58 per cent of the app's parent company ByteDance.ALY SONG/Reuters White House-led talks on the future of TikTok are coalescing around a plan for the biggest non-Chinese investors in parent company ByteDance to up their stakes and acquire the short video app’s U.S. operations, according to two sources familiar with the discussions. The plan entails spinning off a U.S. entity for TikTok and diluting Chinese ownership in the new business to below the 20 per cent threshold required by U.S. law, rescuing the…

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