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Thursday Aug 13 2020
By
Reuters

India's Reliance mulls TikTok investment: report

By
Reuters
Microsoft has been in talks to acquire the US operations of the video-sharing app. Photo: Reuters

TikTok's parent company, ByteDance is in talks with India's Reliance for investment in the short-video sharing app, TechCrunch reported on Thursday.

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

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