A familiar consortium involving Oracle Corp., Blackstone Inc., and Andreessen Horowitz has re-emerged as the lead contender to acquire TikTok’s US operations, according to sources cited by Bloomberg.

The group, which previously attempted to secure a stake in the app in April, is reportedly the same “very wealthy” buyer referenced by President Donald Trump in a recent Fox News interview.

The earlier deal was suspended after China refused to sign off, amid escalating US-China trade tensions following Trump’s decision to impose sweeping tariffs on Chinese imports.

With a new trade agreement now easing some of that pressure, negotiations have resumed.

The proposed deal would see the investor group take a 50% stake in TikTok’s US business, with existing American investors in ByteDance holding roughly 30%, leaving the Chinese parent company with under 20% – a structure intended to comply with US national security laws. Oracle would also take a minority stake and oversee data security.

While Trump has confirmed a buyer is in place, he noted that final approval from Chinese President Xi Jinping may still be required, adding that he’ll name the buyer publicly “in about two weeks.”

The White House has extended TikTok’s divestment deadline to mid-September, its third such delay. Under a law signed last year, ByteDance is required to sell TikTok’s US operations or face a ban due to national security concerns.