SoftBank mulls bid for TikTok’s Indian business, report says

4 Sep 2020

Japanese tech conglomerate SoftBank Group Corp is reportedly exploring the option of putting together a bid vehicle to acquire TikTok’s Indian asset and, to that end, has been ‘actively looking for local partners’, according to Bloomberg citing people familiar with the matter. The unconfirmed report claims that in recent weeks, Masayoshi Son-led SoftBank – which already owns a stake in TikTok’s Chinese parent ByteDance – has held talks with the heads of India’s Reliance Jio Infocomm and Bharti Airtel. Although the talks came to nothing, the unnamed sources (who asked not to be identified because of the confidential nature of the talks) said SoftBank is ‘still exploring options’. In order to progress its plan, however, the Japanese group would almost certainly need to buddy-up with a local partner to win the necessary government approval and secure a deal.

Japan, SoftBank Group Corp