Private equity giant Blackstone has withdrawn from a consortium led by Susquehanna International Group and General Atlantic aiming to acquire TikTok’s US operations from parent company ByteDance, according to a report by Reuters.
The report cite unnamed sources familiar with the matter as revealing that the consortium had been positioned as the front-runner to take control of TikTok’s US business with both Susquehanna and General Atlantic already current investors in ByteDance.
Blackstone’s exit underscores the growing complexity and uncertainty surrounding the deal, which has faced multiple delays amid US-China trade tensions and ongoing political scrutiny. The transaction is part of a broader effort to restructure TikTok’s US presence, with American investors sett op hold an 80% stake in a new US-based company and ByteDance retiring a minority interest.
The US government has repeatedly extended the deadline for ByteDance to divest TikTok’s US operations, most recently moving it to mid-September 2025.
Other prominent investors in the consortium include KKR, Andreessen Horowitz, and likely Oracle, though it remains unclear which members will stay involved following Blackstone’s departure.
