Mukesh Ambani To The Rescue? TikTok In Talks With RIL To Sell Its Indian Business

Mukesh Ambani TikTok

As per reports, parent company of TikTok- ByteDance is planning to sell its Indian business and has approached Mukesh Ambani-owned RIL.

Mumbai| TikTok, the short-video app that became an instant hit in India with millions of user is desperate to make a comeback in the market. The app was banned along with several other Chinese-owned apps by the Government of India citing security and data privacy issue. Since then it has been struggling to relaunch the app in its second-largest market.

The company seems to repeat its American formula in India as well. As per reports, TikTok’s parent company ByteDance is planning to sell its Indian business. The company has approached Mukesh Ambani-owned Reliance Industries Limited (RIL) to sell its Indian arm. Negotiations in this regard began between the two companies in late July. However, the two companies have not reached any deal yet. Reliance and ByteDance are yet to issue an official statement on this.

India has banned 106 Chinese apps

After the border dispute in the Galwan Valley of Ladakh, the Indian government banned 59 apps, mostly Chinese. This included popular apps such as TikTok, WeChat, Alibaba Group’s UC Browser and UC News. Later, the government had also banned an additional 47 Chinese-owned apps in July. These were the clones of previously banned apps. So far, the Indian government has banned 106 apps from China. The short-video app which was hit the hardest had Indian business valued at around $ 3 billion.

Last week, the US approved a ban on TikTok

Last week, the US also approved a ban on the Chinese app TikTok. President Donald Trump signed an executive order in this regard. However, the US has given ByteDance up to September 15 to sell its US business to an American company. If ByteDance is unable to make a deal by September 15, the ban on Chinese-owned app will continue.

Microsoft-Twitter Eye For TikTok’s America Business

Microsoft was the first to show interest in buying TikTok’s US business. Microsoft CEO Satya Nadella had also informed President Donald Trump. Trump also supported Microsoft’s offer. However, a deal hasn’t been finalized yet. Meanwhile, last week it was also reported that Twitter is also in talks with ByteDance to buy TikTok’s US business. The Short-video platform’s US business is valued at close to $ 30 billion.

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