BUZZ-Oracle shares rise; new investor group set to take control of TikTok's US operations
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Oracle shares rise 5.6% as part of an investor group taking control of TikTok's U.S. operations, following a ByteDance agreement. The new venture will be 80.1% owned by American or global investors, with ByteDance retaining 19.9%. The deal aims to prevent a U.S. ban and address national security concerns. Financial terms were not disclosed. TikTok has 170 million U.S. users, and Oracle's stock is up 8% year-to-date.
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