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ByteDance, Reliance Industries in talks for investment in TikTok

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

twitter-logoReuters | August 13, 2020 | Updated 11:37 IST
ByteDance, Reliance Industries in talks for investment in TikTok

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 here 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 has been in talks to acquire the U.S. 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 told Reuters late last week.

Also read: Mukesh Ambani's RIL in talks with parent ByteDance to acquire TikTok in India

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