HONG KONG (Reuters) – U.S. President Donald Trump has actually issued an executive order prohibiting U.S. transactions including Chinese social media 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 begins in 45 days.
Below is a list of some of Tencent’s most significant U.S. and international investments:
Tech Security UNITED STATES
* Tesla Inc: Tencent purchased 5%of the electrical vehicle maker for $1.78 billion in2017 Tesla President Elon Musk has actually called Tencent “an investor and consultant to Tesla”.
* Riot Games: Tencent bought a majority stake in the Los Angeles-based “League of Legends” video game designer in 2011 and made it fully owned in 2015.
* Activision Blizzard Inc: Tencent has a minority stake in the owner of the “Call of Responsibility” franchise. Tencent in 2015 launched “Call of Responsibility Mobile” and has seen 45 million downloads in the United States, Tower Sensor data revealed.
* Legendary Games: Tencent obtained a minority stake in 2012.
* Snap Inc: Tencent purchased 12%of the messaging app operator in 2017.
* Reddit Inc: The social networks platform raised $300 million in 2019 in a financing round led by Tencent leading to a market valuation of $3 billion.
Tech Security INTERNATIONAL
* Spotify Innovation SA: The Swedish music streaming company and Tencent Music Entertainment Group bought minority stakes in each other ahead of the previous’s 2018 stock market listing in New york city.
* Universal Music Group: French media conglomerate Vivendi SA in 2019 said it had actually finalised the sale of 10%of the world’s biggest music label to a Tencent-led consortium, which likewise had the option to purchase up to 10%more by January 2021 on the exact same cost basis. The offer offered Tencent more access to U.S. artists such as Taylor Swift and Kanye West.
* U.S. listed companies: 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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