Private equity firm Blackstone has pulled out of the investor consortium looking to buy TikTok’s US operation, Reuters reported Friday (July 18), citing a source familiar with the matter. The withdrawal comes as TikTok’s presence in the US remains uncertain, with multiple deadline extensions on the divest-or-ban law. Blackstone had reportedly been slated to take a minority stake in the platform’s US business alongside other consortium members.
Source: Blackstone exits consortium for TikTok deal as divest-or-ban deadline looms (report)