US President Donald Trump has issued an govt order banning US transactions involving Chinese social media and online game chief Tencent Holdings, proprietor of messaging app WeChat, on nationwide security grounds.
US Commerce Secretary Wilbur Ross is ready to determine transactions lined by the order, which begins in 45 days.
Below is an inventory of a few of Tencent’s largest US and worldwide investments:
Tesla: Tencent purchased 5 % of the electrical car maker for $1.78 billion (roughly Rs. 13,341 crores) in 2017. Tesla Chief Executive Elon Musk has referred to as Tencent “an investor and adviser to Tesla.”
Riot Games: Tencent purchased a majority stake within the Los Angeles-based League of Legends game developer in 2011 and made it totally owned in 2015.
Activision Blizzard: Tencent has a minority stake within the proprietor of the Call of Duty franchise. Tencent last yr launched Call of Duty Mobile and has seen 45 million downloads within the United States, Tower Sensor fact confirmed.
Epic Games: Tencent acquired a minority stake in 2012.
Snap: Tencent purchased 12 % of the messaging app operator in 2017.
Reddit: The social media platform raised $300 million (roughly Rs. 2,248 crores) in 2019 in a funding round led by Tencent leading to a market valuation of $three billion (roughly Rs. 22,488 crores).
Spotify Technology: The Swedish music streaming agency and Tencent Music Entertainment Group purchased minority stakes in one another forward of the previous’s 2018 inventory market itemizing in New York.
Universal Music Group: French media conglomerate Vivendi SA in 2019 mentioned it had finalised the sale of 10 % of the world’s largest music label to a Tencent-led consortium, which additionally had the choice to purchase as much as 10 % further by January 2021 on the identical worth foundation. The deal gave Tencent further entry to US artists akin to Taylor Swift and Kanye West.
US listed corporations: Tencent owns stakes in Bilibili, Sogou, Huya, Douyu International Holdings, JD.com, Pinduoduo, Vipshop Holdings, Nio, and Futu Holdings.
© Thomson Reuters 2020
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[Attribution Gadgets 360]