Some major ByteDance investors may be eyeing a bid for TikTok.
The Chinese firm has been in talk to divest the video sharing app’s operations in North America, Australia and New Zealand.
That’s after Donald Trump ordered ByteDance to sever ties with TikTok in the U.S., citing concerns over the safety of personal data it handles.
Microsoft and Oracle are seen among the potential acquirers.
But now some major investors may be vying to exchange some or all of their stakes in ByteDance for equity in the TikTok assets.
Reuters sources say that includes investment firm General Atlantic.
They say the TikTok assets for sale could be worth up to 30 billion dollars.
But any acquisition by investors faces long odds.
The Trump administration has said it expects a major U.S. firm to lead the deal.
Washington’s Committee on Foreign Investment in the U.S. would also have to approve it.
That leaves Microsoft as the front runner, the sources say, thanks to its deep pockets and technical ability.
The software giant says it is working on how TikTok could be separated from ByteDance after a deal is reached.
There was no immediate comment on the reports from General Atlantic or other investors.