86 096
Fashion Jobs
RALPH LAUREN
Associate Manager
Permanent · HERSHEY
A & F
Abercrombie & Fitch - Assistant Manager, International Market Place
Permanent · HONOLULU
A & F
Hollister CO. - Brand Representative, Galleria at Tyler
Permanent · RIVERSIDE
FOOT LOCKER
Director of Safety (Supply Chain)
Permanent · CAMP HILL
LEE
PT Keyholder, Estero, FL
Permanent · ESTERO
URBN
Free People: Merchandise Planning Manager
Permanent · PHILADELPHIA
URBN
Free People: Senior Merchandise Planner
Permanent · PHILADELPHIA
KOHLS
Operations Supervisor - Weekend Overnights
Permanent · EDGEWOOD
KOHLS
Full-Time Loss Prevention Officer
Permanent · SOUTH BURLINGTON
ADIDAS
Key Account Manager: Athletic Footwear
Permanent · PITTSBURGH
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · GOSHEN
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · NAPLES
KOHLS
Shift Leader/Operations Manager - Weekend Night Shift
Permanent · PATASKALA
AMERICAN EAGLE OUTFITTERS
Aerie - Merchandise Leader (Part-Time) - us
Permanent · POOLER
AMERICAN EAGLE OUTFITTERS
ae - Merchandise Leader (Part-Time) - us
Permanent · MURFREESBORO
AMERICAN EAGLE OUTFITTERS
Aerie - Merchandise Leader - us
Permanent · KAPOLEI
NAVY EXCHANGE
Buyer (Level i) - Beauty Care
Permanent · VIRGINIA BEACH
NAVY EXCHANGE
Buyer (Level i) - Pet
Permanent · VIRGINIA BEACH
GAP INC.
Asset Protection Service Representative - Harlem Usa
Permanent · NEW YORK
GAP INC.
Asset Protection Coordinator - Mount Vernon Plaza
Permanent · ALEXANDRIA
BANANA REPUBLIC
Associate Art Director, Photo Studio
Permanent · SAN FRANCISCO
ECCO
Third Keyholder
Permanent · SAN FRANCISCO
By
Reuters API
Published
Sep 17, 2020
Reading time
2 minutes
Download
Download the article
Print
Text size

U.S. investors set to own majority stake in TikTok Global - source

By
Reuters API
Published
Sep 17, 2020

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




The U.S. 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.

The new company, called TikTok Global, will have a majority of American directors and a U.S. chief executive. Oracle has agreed to take a 20% stake in the company when it is created and Walmart Inc is also expected to take an equity stake and have a seat on TikTok Global's board, the source said.

It is still not clear if U.S. President Donald Trump will sign off on the detail.
Trump said he Wednesday he did not like the idea of U.S. investors holding a minority stake. "Conceptually, I can tell you that I don’t like that,” Trump said.

U.S. investors currently have a 40% stake in ByteDance, including Sequoia Capital and General Atlantic. After Oracle and Walmart invested in TikTok Global, U.S. investors would own a significant majority, the source said.

While TikTok is best known for dancing videos that go viral among teenagers, U.S. officials are concerned user information could be passed to China’s Communist Party government. TikTok, which has as many as 100 million U.S. users, has said it would never share such data with Chinese authorities.

It is not clear what Oracle will pay for its stake. Oracle and Treasury did not immediately comment.
White House Chief of Staff Mark Meadows said on Thursday that the administration is still looking at details of the deal and whether it meets national security thresholds. Meadows said if TikTok remains predominantly Chinese-run under the Oracle deal, that would not meet President Donald Trump’s objectives.

CNBC and Bloomberg News reported some details of the ByteDance Treasury agreement earlier.

 

© Thomson Reuters 2024 All rights reserved.

Tags :
Media
Business