ByteDance in Talks with Reliance's for Investment in India
ByteDance is engaging with India's Reliance Industries Limited, the parent firm of telecom giant Jio Platforms, for investment in TikTok to save its fate in Indian market by users.
The two companies began conversations late last month and have yet to reach a deal, the sources said, requesting anonymity as the talks are private. One of the sources said that TikTok's business in India had accumulated more than 200 million users before it was banned in late June, and its value has exceeded USD 3 billion.
This text is a result of machine translation.
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