ByteDance in talks with Reliance Industries for investment in TikTok

China's ByteDance has had early talks with Reliance Industries Ltd. for investment in the TikTok video-based app business in India, TechCrunch reported Thursday, citing sources.

The two companies began conversations late last month and have yet to reach a deal yet, according to the report.

Reliance, ByteDance, and TikTok did not immediately respond to Reuter's requests for comment.

The Indian government banned 59 Chinese apps, including TikTok and WeChat, for threatening its "sovereignty and integrity" after border tensions with China.

Last week, US President Donald Trump unveiled a ban on US transactions with owners of the messaging app WeChat and TikTok who reside in China, escalating tensions between the two countries.

Microsoft Corp has been in talks to acquire the US operations of video-sharing app.

Social media platform Twitter Inc has also expressed interest in striking a deal with TikTok, sources familiar with the matter told.

Also Read: How COVID vaccines will be distributed in India?