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ByteDance and Reliance in talks for investment in TikTok’s India business
- Friday | 14th August, 2020
(Reuters) – China’s ByteDance is in early talks with Reliance Industries Ltd for an investment in its video-based app TikTok’s business in India, TechCrunch reported on Thursday, 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. Microsoft Corp has been in talks to acquire the US operations of the video-sharing app.
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