Reliance To Buy India Operations Of TikTok For $5 Billion?
The Mukesh Ambani led, super successful company, Reliance Industries Limited…
The Mukesh Ambani led, super successful company, Reliance Industries Limited (RIL) is reportedly in talks with Bytedance to acquire the India operations for TikTok.
The firm has begun talks with the Chinese firm last month – according to media reports, the deal is valued at $5 billion.
With more than 611 million downloads generated to date, according to data sourced from market intelligence firm Sensor Tower, India is the largest market for TikTok outside China.
TikTok has earlier been banned in India along with a host of other apps following an order by the government in the wake of the Indo-China tensions.