05:52 AM EDT, 07/21/2025 (MT Newswires) -- Blackstone (BX) has pulled out of a consortium aiming to invest in TikTok's US operations, news outlets reported Friday.

The private-equity giant had planned to take a minority interest in the business as part of a deal orchestrated by US President Donald Trump, Reuters reported.

The consortium, led by Susquehanna International Group and General Atlantic -- both existing investors in TikTok's Chinese owner ByteDance -- had become the leading candidate to acquire TikTok's US operations, according to the report.

Under the proposed arrangement, US investors would own 80% of TikTok, while ByteDance would maintain a minority share, the news agency reported.

Blackstone didn't immediately reply to MT Newswires' request for comment.