News Posted on
Los Angeles, 05 September: A Japanese Company ‘Softbank Group Corp’ is looking for a group of bidders for China’s banned app ‘Tik Tok’ property in India.
The Japanese company has a stake in Tik Tok’s parent company, BiteDance Ltd.
The Japanese company has held talks with the heads of ‘Reliance Jio Infocomm Limited’ and ‘Bharti Airtel Limited’ in India.
As per the reliable sources from Bloomberg, people have said that these two companies have refused to comment on this.
It is said to be a private conversation. According to the Japanese daily, SoftBank is still looking for alternatives.
According to the sources, Tik Tok is considering to sell its operating assets after the ban in India. It fears that sensitive user data is going into the hands of the Chinese state.
India, a long-time regional rival, has taken a particularly tough stance. In July, India banned 59 of China’s largest Internet services, including video- sharing social networking service Tik Tok.