ByteDance in talks with Mukesh Ambani’s Reliance for TikTok sale

Chinese firm ByteDance, as per media reports, is in early-stage discussions with Mukesh Ambani’s Reliance Industries Limited, owner of emerging digital giant Jio Platforms, for buying TikTok’s business in India. The report said that the two companies engaged in a discussion late last month but are yet to reach any deal. India is TikTok’s largest market as per user base. It has over 200 mn users before it was banned in late June and is being valued at more than $3 billion.

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