? ? Reliance Bidding For Tik Tok In India?
Chinese app TikTok is trying to move away from Beijing in a bid to retain its profitable presence in significant Indian, American, and European markets. Following border conflicts with China, India banned TikTok along with 120 other apps citing national security concerns. The US is also keen on taking a similar move.
TikTok's Chinese parent ByteDance, which has reportedly frozen hiring in India, is in talks with telcom giant Reliance Jio to sell its Indian business valued at over a whopping $3 billion, TechCrunch reported.
The two companies first initiated the discussions towards the end of last month, the publication reported on Thursday, citing anonymous sources familiar with the development.
Indian Billionaire Mukesh Ambanis Reliance Second in World After Apple on FutureBrand Index 2020
Led by the world's fifth richest man Mukesh Ambani, Jio is the world's third largest mobile network operator with over 387.5 million subscribers. Around a dozen global firms including Facebook and Google, in recent months when the global economy has been cramping, have invested around $15 billion in Jio.
https://sputniknews.com/india/202008131080152196-bytedance-reportedly-in-talks-with-reliance-jio-to-sell-tiktoks-india-biz-worth-over-3-bln/
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? ? Reliance Bidding For Tik Tok In India? Chinese app TikTok is trying to move away from Beijing in a bid to retain its profitable presence in significant Indian, American, and European markets. Following border conflicts with China, India banned TikTok along with 120 other apps citing national security concerns. The US is also keen on taking a similar move. TikTok's Chinese parent ByteDance, which has reportedly frozen hiring in India, is in talks with telcom giant Reliance Jio to sell its Indian business valued at over a whopping $3 billion, TechCrunch reported. The two companies first initiated the discussions towards the end of last month, the publication reported on Thursday, citing anonymous sources familiar with the development. Indian Billionaire Mukesh Ambanis Reliance Second in World After Apple on FutureBrand Index 2020 Led by the world's fifth richest man Mukesh Ambani, Jio is the world's third largest mobile network operator with over 387.5 million subscribers. Around a dozen global firms including Facebook and Google, in recent months when the global economy has been cramping, have invested around $15 billion in Jio. https://sputniknews.com/india/202008131080152196-bytedance-reportedly-in-talks-with-reliance-jio-to-sell-tiktoks-india-biz-worth-over-3-bln/