BEIJING: ByteDance Ltd’s TikTok is in talks to invest into a unit of Indonesia’s GoTo Group, one of several options the Chinese company is weighing to try and restart its online shop in its biggest e-commerce market.
The companies are working on a potential investment into GoTo’s online-retail unit Tokopedia, which could be finalised in the coming weeks, people with knowledge of the matter said. Instead of a direct investment, the deal could take the form of a joint venture between the two firms, said one of the people, who asked not to be identified as the information is private.
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