ByteDance in talks to sell TikTok India assets to Glance
According to media reports, ByteDance is exploring the sale of India operations of TikTok to rival short video platform Glance. The discussions have been initiated by Softbank Group. Softbank is a common investor in TikTok parent ByteDance as well as Glance parent InMobi.
The deal is between Softbank, ByteDance and Glance and will need the sign off from Indian authorities. Last year, the Indian Government issued a blanket ban on more than 59 apps which included TikTok during escalating border tensions between China and India. The Ministry of Electronics and Information Technology (MeitY) has since made the temporary ban permanent after finding the clarifications from the app companies inadequate.