Investing.com -- Discussions led by the White House regarding the future of TikTok are now focusing on a plan where the largest non-Chinese investors in ByteDance, TikTok’s parent company, might increase their stakes and acquire the U.S. operations of the short video app, according to a Reuters report on Friday.

The proposed plan includes creating a separate U.S. entity for TikTok and reducing Chinese ownership in the new business to less than the 20 percent limit set by U.S. law. This move could potentially save the app from a possible ban in the U.S.

Jeff Yass of Susquehanna International Group and Bill Ford of General Atlantic, both board members of ByteDance, are leading the discussions with the White House regarding this plan. Private equity firm KKR is also participating in these discussions, the report added.

As per the plan, Oracle (NYSE: ORCL ), the software giant, would continue to manage the data of U.S. users and ensure that this data cannot be accessed from China.

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