WASHINGTON (Reuters) – A White House official told Reuters that President Donald Trump will review a final TikTok proposal on Wednesday, ahead of an April 5 deadline for the app to find a non-Chinese buyer or risk a US ban.
Vice President JD Vance, Commerce Secretary Howard Lutnick, national security advisor Mike Waltz, and Director of National Intelligence Tulsi Gabbard will meet in the Oval Office, according to an individual who confirmed a CBS News story.
According to Reuters, private equity company Blackstone (BX.N) is considering joining ByteDance’s current non-Chinese owners, which include Susquehanna International Group and General Atlantic, in injecting additional funds to bid for TikTok’s U.S. business.
On Sunday, Trump announced that a deal with ByteDance to sell the short video app used by 170 million Americans will be reached before the deadline of April 5.
In January, Trump set a deadline for TikTok to find a non-Chinese buyer or face a US ban on national security grounds, which was supposed to go into force that month under a 2024 legislation.
The Financial Times reported on Tuesday that Andreessen Horowitz, a venture capital company in the United States, is in talks to invest in TikTok as part of Trump’s campaign to seize control of the app.
Marc Andreessen, a Silicon Valley Trump supporter and Andreessen Horowitz co-founder, is in negotiations to contribute more outside money to buy out TikTok’s Chinese owners, as part of a deal spearheaded by Oracle (ORCL.N) and other American investors to separate it from its parent firm ByteDance, according to the Financial Times.
According to two individuals familiar with the subject, private equity company Blackstone (BX.N) is considering a modest minority stake in TikTok’s US business.
TikTok and Andreessen Horowitz did not immediately reply to Reuters’ inquiries for comment.
According to Reuters, discussions on TikTok’s future are centered on a plan for ByteDance’s largest non-Chinese investors to increase their interests and purchase the short-video app’s U.S. business.
Trump stated last month that his administration was in contact with four separate groups about a potential TikTok transaction, but did not identify them.
In the carefully anticipated sale of TikTok, the White House is acting as an investment bank, with Vance overseeing the bidding.
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