After ban in India, Chinese app TikTok is in talks with billionaire Mukesh Ambani’s Reliance Industries Ltd (RIL) for an investment in its business in the country.
According to a media report, the discussion between Reliance Industries and China’s ByteDance that owns short video-sharing app TikTok, is in early stage.
The report said, the two companies began talks late last month. However, no deal has been finalised as of now.
However, Reliance, ByteDance and TikTok are yet to respond to comment regarding the talks.
In June, the Indian government banned a total of 59 Chinese apps, including TikTok, Helo, ShareIT, UC Browser and shopping app Clubfactory.
The Chinese apps were banned to counter the threat allegedly posed by these applications to the country’s “sovereignty and security”.
The apps were blocked amid rising tensions between India and China following clashes at the international border in Ladakh.
Meanwhile, the US President Donald Trump last week unveiled bans on the US transactions with the China-based owners of messaging app WeChat and TikTok, escalating tensions between the two countries.
Meanwhile, Microsoft Corp has been in talks to acquire the US operations of the video-sharing app.
The report quoted sources as saying that social media platform Twitter Inc has also expressed interest in having a deal with TikTok.