• Wednesday, May 18, 2022

Business

ByteDance in talks with India’s Reliance for investment in TikTok: Report

Chairman and managing director of India’s Reliance Industries, Mukesh Ambani. (RAVEENDRAN/AFP/Getty Images)

By: Pramod Thomas

China’s ByteDance is in early talks with India’s Reliance Industries Ltd for an investment in its video-based app TikTok’s business in India, TechCrunch reported, citing sources.

The two companies began conversations late last month and have not reached a deal yet, according to the report.

Reliance, ByteDance and TikTok did not immediately respond to Reuters requests for comment.

The Indian government in June banned 59 Chinese apps, including TikTok and WeChat, for threatening its “sovereignty and integrity” after border tensions with China.

Last week, the US president Donald Trump unveiled bans on US transactions with the China-based owners of messaging app WeChat and TikTok, escalating tensions between the two countries.

Microsoft Corp has been in talks to acquire the US operations of the video-sharing app.

Social media platform Twitter Inc has also expressed interest in having a deal with TikTok, sources familiar with the matter said.

Eastern Eye

Related Stories

Eastern Eye

Videos

Mrunal Thakur on Dhamaka, experience of working with Kartik Aaryan,…
Nushrratt Bharuccha on Chhorii, pressure of comparison with Lapachhapi, upcoming…
Abhimanyu Dassani on Meenakshi Sundareshwar, how his mom Bhagyashree reacted…