Thursday 13 August 2020

Reliance to buy India's TikTok business? Find out how much truth there is

After the ban on tick-talk in India, it is being learned that Microsoft can buy the tick-talk business. Microsoft's decision to buy Tick-Talk comes after Donald Trump set a September 15 deadline to sell Tick-Talk in the United States. Now it is being discussed that Reliance is also considering these possibilities. Through which he can invest in Tick-tock's business in India. This was reported by about 6 people involved in the case.

Reliance officials met Tiktok CEO

It is also learned that Tiktok CEO Kevin Meyer has met a top official of Reliance (tiktok approaches ril to sell its business). By which it can be known whether Reliance is interested in buying Indian business. Now Reliance and Geo are discussing the issue. An official also said that Reliance and Tiktok officials are in touch with each other.

Reliance said the rumor

Though there is a heated discussion in the market that Reliance may now buy Tiktok, the company has not reacted to the rumors. A Reliance spokesperson said the company has always given necessary instructions under the rules of SEBI and under the agreement with the stock exchange.

No one has made any comment

Tiktok did not respond. Microsoft has also declined to comment. Kevin Meyer mailed ET via LinkedIn. No response was received. According to sources, talks on the deal are in the early stages and it may not happen as there are all sorts of hurdles.

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