Softbank Likely To Consider To Bid For Tik Tok India.

Softbank likely to consider to bid for Tik Tok India.

Japanese conglomerate SoftBank has started talks for a possible acquisition of the banned India unit of TikTok, two people aware of the development said.“The discussions are at an early stage, and the deal will depend on factors such as valuation, government regulations, etc.,” said one of the two people, both of whom spoke on condition of anonymity.

 Softbank Likely To Consider To Bid For Tik Tok India.-TeluguStop.com

Bloomberg first reported the discussions on Thursday evening.

SoftBank could tie up with other partners for the deal, the people cited above added.SoftBank declined to comment on the development.

An email sent to ByteDance India, the parent of TikTok, remained unanswered till press time.

According to the Bloomberg report, SoftBank had begun talks with Reliance Jio Infocomm Ltd and Bharti Airtel Ltd for investment in TikTok’s India operations, but these talks fizzled out.The Masayoshi Son-led investment firm owns a minority stake in TikTok’s parent company ByteDance.

Following a deadly border clash in Ladakh, India on 29 June banned 59 Chinese apps, including TikTok, on the grounds of national security, for sharing sensitive user data with the Chinese government.

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