Private equity company Blackstone has reportedly withdrawn from a consortium bidding to invest in TikTok’s US operations.
The latest development came as heightened uncertainty surrounding the fate of the Chinese-owned TikTok, and there have been multiple delays in the company’s deal now at the center of US-China trade discussions.
The consortium, led by Susquehanna International Group and General Atlantic, both existing equity holders in ByteDance, TikTok’s Chinese parent firm, had been seen as a major player to purchase TikTok’s US business, as reported by Reuters.
Under the proposed structure, US-based investors were likely to own 80% equity in TikTok, while ByteDance would retain a minority stake.
Initially, Blackstone had aimed to get a minority position in the company, which had the support of President Donald Trump’s administration.
However, the deal timeline has kept extending, creating disquiet among potential investors.
The deadline to divest, governed by US law passed in April 2024, needed ByteDance to shut down TikTok’s US operations in January 2025.
Lawmakers have criticised these delays, some of whom accuse the administration of minimising national security concerns associated with Chinese ownership.
ByteDance, which earned $43 billion in revenue in the beginning of 2025, is exploring restructuring or sale options to adhere with US laws.
