A private equity firm, Blackstone, has withdrawn from a consortium aiming to invest in TikTok’s US operations, according to a source familiar with the matter.
The group, led by Susquehanna International Group and General Atlantic, had been in talks to acquire an 80% stake in TikTok’s US business, with ByteDance slated to retain a minority share.
The proposed deal has faced repeated delays and is currently entangled in US-China trade negotiations. The deadline for ByteDance to divest TikTok’s US operations has been extended multiple times, with the current cutoff set for September 17, 2025.
Some lawmakers have voiced criticism over these delays, citing ongoing national security concerns.
Meanwhile, ByteDance is reportedly exploring various options for its US arm, including a potential sale or a restructuring. The status of other consortium members, such as KKR, Andreessen Horowitz, and Oracle, remains unclear following Blackstone’s exit.
