Reliance Industries is currently in "early discussions" with TikTok parent company ByteDance, which is headquartered in Beijing, about a potential deal for TikTok's business in India, according to the report.
Discussions between ByteDance and Reliance Industries reportedly began in July but a deal is yet to be reached. TikTok's business in India has a valuation of $3 billion, according to one of the sources cited by TechCrunch. It's unclear if Reliance would like to acquire the whole of TikTok's business in India or just part of it.by the Indian government along with 58 other Chinese apps on June 29 as geopolitical tensions between the two nations soared. It's possible that the Indian government would reinstate TikTok if it was owned by an Indian company, just like President Donald Trump has said TikTok could continue operating in the U.S. provided it is owned by a U.S.
What is up with TiktoK ?
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Source: Reuters - 🏆 2. / 97 Read more »