As Trump pushes the deadline back another 75 days, Susquehanna International Group is at the forefront of efforts to keep TikTok in the U.S., writes Samantha Neely for USA Today.
The Bala Cynwyd-based trading firm, a longtime investor in TikTok’s parent company ByteDance, is helping lead a consortium—alongside Blackstone and other non-Chinese stakeholders—aiming to acquire TikTok’s U.S. operations and strip down ByteDance’s ownership below a federally mandated threshold.
A deal backed by Susquehanna was reportedly close to approval, with plans for a new U.S.-based entity majority-owned by American investors. However, negotiations fell apart last week after Trump imposed new tariffs on China, prompting retaliatory action from Beijing and halting progress on the deal.
Trump said his administration has made “tremendous progress” and the extension gives more time to finalize necessary approvals. The TikTok ban, first mandated by Congress last year due to national security concerns over data privacy and foreign influence, was initially set for January 19.
Susquehanna’s group remains one of the few credible pathways forward as the White House works to broker a sale that satisfies legal and geopolitical concerns. Whether 75 more days will be enough remains to be seen.
Read more about Susquehanna International Group of Bala Cynwyd’s efforts to keep TikTok in the States in USA Today.
