Categories: Business

ByteDance in talks with RIL for investment in TikTok TikTok Good news for users, India's largest company is in talks to buy

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ByteDance in talks with RIL for investment in TikTok

new Delhi. This can be good news for Indian users of China's short video app TicketLock. Reliance Industries of Mukesh Ambani, the richest person in India, is in talks to buy Tiktok's Indian business. The news comes after Microsoft confirmed TicTalk's ongoing negotiations to acquire operations in the US, Australia, Canada and New Zealand. It is worth mentioning that there is opposition from China all over the world and Chinese companies are suffering due to this.

India has banned a total of 106 apps in India including Tiktok, UC Web, after the Chinese military clashed with Indian troops in Ladakh. President Donald Trump of the US has given Tittock time until September 15 to either sell his business to an American company or leave his Boria bed.

Now it is also being discussed that Reliance Industries is also considering the possibilities through which it can invest to take over the Indian operations of Tiktok. Six people related to this case have given this information to the English business newspaper Economics Times. There are also reports that Ticketlock CEO Kevin Mayer has met top Reliance executives. Reliance is considering whether Ticketcock's buying of India's business will be a profitable deal at this time. An official has also said that officials of Reliance and Tiktok are in touch with each other.

Even though there is a heated discussion in the market that Reliance can now buy TickTock, but the company has refused to give any response, calling it a rumor. A Reliance spokesperson said that the company has always committed itself to providing the necessary information under SEBI regulations and under the rules of the stock exchange. Ticktock also did not respond. Microsoft also declined to comment. According to sources, talks are still in the initial stage and it may not even be a deal, there are many hurdles in it. Tittock has 200 million users in India.

Microsoft has officially announced that it is in talks to buy the US, Canada, Australia and New Zealand operations of the videosharing platform TickTalk. The announcement comes after a meeting between Microsoft CEO Satya Nadella and President Donald Trump. Ticketock has 80 million monthly users in the US. The company said that it will complete the deal by 15 September 2020 under any circumstances.

This post was published on August 13, 2020 10:49 am

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