SoftBank exploring partnerships to bid for TikTok’s India business

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 the first of the two people, both of whom spoke on condition of anonymity.

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.