Reliance Industries more likely to buy Tiktok India

Reliance Industries Limited is now the latest bidder for the Tiktok India owned by Bytedance. It is reported that the industry giant is planning to buy the short video app for $5 Billion.

Given that the short video apps are more sought after applications in India outside China, the app has reportedly more than 600 million downloads. As per the reports, both Reliance and Bytedance have rubbished the news, however, the experts and the industry claim that the RIL is more likely to buy Tiktok post Indian government banning Chinese apps including Tiktok due to data privacy and threat to security.

Earlier, Tech Giant Microsoft had said that it was planning to acquire Tiktok in the US and other major markets as well. The talks are expected to be finalized in September.

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