HONG KONG, Aug 7 (Reuters) – U.S. President Donald Trump has actually provided an executive order banning U.S. transactions including Chinese social networks and computer game leader Tencent Holdings Ltd, owner of messaging app WeChat, on nationwide security grounds.
U.S. Commerce Secretary Wilbur Ross is set to identify transactions covered by the order, which starts in 45 days.
Below is a list of some of Tencent’s biggest U.S. and international investments:
Tech Security UNITED STATES
* Tesla Inc: Tencent purchased 5%of the electric vehicle maker for $1.78 billion in2017 Tesla Chief Executive Elon Musk has actually called Tencent “a financier and adviser to Tesla”.
* Riot Games: Tencent purchased a majority stake in the Los Angeles-based “League of Legends” video game developer in 2011 and made it totally owned in 2015.
* Activision Blizzard Inc: Tencent has a minority stake in the owner of the “Call of Duty” franchise. Tencent in 2015 launched “Call of Duty Mobile” and has seen 45 million downloads in the United States, Tower Sensing unit data revealed.
* Epic Games: Tencent got a minority stake in 2012.
* Snap Inc: Tencent bought 12%of the messaging app operator in 2017.
* Reddit Inc: The social networks platform raised $300 million in 2019 in a funding round led by Tencent leading to a market valuation of $3 billion.
Tech Security INTERNATIONAL
* Spotify Innovation SA: The Swedish music streaming firm and Tencent Music Entertainment Group purchased minority stakes in each other ahead of the previous’s 2018 stock market listing in New york city.
* Universal Music Group: French media corporation Vivendi SA in 2019 stated it had finalised the sale of 10%of the world’s biggest music label to a Tencent-led consortium, which likewise had the option to buy up to 10%more by January 2021 on the very same price basis. The deal provided Tencent more access to U.S. artists such as Taylor Swift and Kanye West.
* U.S. listed firms: Tencent owns stakes in Bilibili Inc, Sogou Inc, Huya Inc, Douyu International Holdings Ltd, JD.com Inc, Pinduoduo Inc, Vipshop Holdings Ltd, Nio Inc and Futu Holdings Ltd. (Reporting by Pei Li; Editing by Christopher Cushing)
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