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Former Treasury Secretary Mnuchin is putting together an investor group to buy TikTok

Steven T. Mnuchin, 77th U.S. Secretary of Treasury; Founder and Managing Partner, Liberty Strategic Capital, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2023.

Mike Blake | Reuters

Former Treasury Secretary Steven Mnuchin said he is putting together an investor group to try to buy TikTok.

Mnuchin’s statements come shortly after the House of Representatives on Wednesday passed a bill that would force ByteDance to divest TikTok or the social media site would face a ban in the U.S.

“I think the legislation should pass and I think it should be sold,” Mnuchin told CNBC’s “Squawk Box” on Thursday. “It’s a great business and I’m going to put together a group to buy TikTok.”

Mnuchin did not specify who the other investors would be in such a deal.

This would not be the first high profile deal Mnuchin has been involved in since leaving the Treasury. Last week, Mnuchin’s Liberty Strategic Capital was a lead investor in a $1 billion capital raise to stabilize New York Community Bancorp.

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