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ByteDance in talks with India's Reliance for investment in TikTok: TechCrunch

Published Aug 12, 2020 11:38PM ET
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© Reuters. FILE PHOTO: TikTok logos are seen on smartphones in front of displayed ByteDance logo in this illustration
 
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(Reuters) - China's ByteDance is in early talks with Reliance Industries Ltd (NS:RELI) for an investment in its video-based app TikTok's business in India, TechCrunch reported https://techcrunch.com/2020/08/12/bytedance-in-talks-with-indias-reliance-for-investment-in-tiktok 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.

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

Microsoft Corp (O:MSFT) has been in talks to acquire the U.S. operations of the video-sharing app.

Social media platform Twitter Inc (N:TWTR) has also expressed interest in having a deal with TikTok, sources familiar with the matter told Reuters late last week.

ByteDance in talks with India's Reliance for investment in TikTok: TechCrunch
 

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Comments (2)
Pradeep Kannaiah
Pradeep Kannaiah Aug 13, 2020 5:58AM ET
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India is a joke
tran son
tran son Aug 13, 2020 4:36AM ET
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fake news. there is no chance (0%) for tiktok to have business india:) sorry it is gonna banned soon, hmm very soon not only in India .
 
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