The TikTok owner said Tuesday it's speaking with a number of potential buyers, including the world's largest video games company Tencent.

A ByteDance spokesperson said talks are ongoing, but no deal has yet been reached.

Local Chinese media reported ByteDance is in discussions with Tencent about a deal involving multiple popular video games.

Tencent did not immediately respond to a Reuters request for comment.

In November, ByteDance said it would overhaul its Nuverse gaming unit.

The Chinese social media giant further said it would pull away from its gaming business to focus on other core businesses.

It comes just five years after it began its move into the $185 billion global video games market.

ByteDance's relationship with Tencent has warmed after a harsh period of competition in gaming.

Reuters reported last month Tencent made heavy use of ByteDance's advertizing network to promote its latest game "DreamStar".