China's ByteDance is in early talks with Reliance Industries for an investment in its video-based app TikTok's business in India, TechCrunch reported on Thursday, citing sources.
The two companies began conversations late last month and have not reached a deal yet, according to the report.
Last week, US President Donald Trump unveiled bans on US transactions with the China-based owners of messaging app WeChat and TikTok, escalating tensions between the two countries.
Microsoft has been in talks to acquire the US operations of the video-sharing app.
© Thomson Reuters 2020
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