Chinese megacorporation Tencent is reportedly in negotiations with U.S. officials for an agreement to retain its stakes in League of Legends creator Riot Games and Fortnite developer Epic Games amid a national security data probe, according to a May 6 report from Reuters. The U.S. Committee on Foreign Investment is investigating whether Epic and Riot’s use of American consumers’ personal data presents a national security risk, sources told Reuters. That committee has the power to demand Tencent divest its investment in American companies, including California’s Riot and North Carolina’s Epic. But the two parties are negotiating an agreement that would allow Tencent to retain its stake in the two gaming companies even if it must exit other portfolio companies. It's still possible that the U.S. government and Tencent don't reach an agreement around the Riot and Epic investments, according to Reuters. Specific details of those discussions were not reported. Both Epic and Riot declined to comment on those negotiations in a request made by The Esports Observer, but Riot told that publication that Tencent is mostly a “hands off” owner of the company. The Committee on Foreign Investment declined to comment when contacted by Reuters. Tencent is the sole owner of Riot, purchasing a majority stake in 2011 and the remaining shares in 2015. It also owns roughly 40 percent of Epic. Tencent is one of the largest companies in all of China, owning social media platform QQ and instant messenger WeChat. It's also considered the largest video game company in the world, according to a report from Bloomberg, with significant investments in Riot, Epic, mobile developer Supercell, and gaming web app site Miniclip. It holds minority stakes in Activision Blizzard, Ubisoft, and Krafton, the parent company of PUBG Corporation. The Committee on Foreign Investment has aggressively pursued Chinese companies that own significant stakes in U.S. technology companies over the last few years as tensions between the U.S. and China have tightened. Both the current administration under President Joe Biden and the former administration under President Donald Trump have gone on the offensive against China, although the focus has differed between the two. https://dotesports.com/news/tencent-negotiating-agreement-to-retain-stakes-in-riot-epic-amid-us-national-security-data-probe #RiotGames #EpicGames #Tencent
Damn
idiot
Is Biden going to lead the good people in China after CCP is down? Or it’s just a civil war for them and the world just watch and say “sorry for you guys” lol For the record I’m from China and don’t like CCP and their ruling. But no real constructive advice is in this thread, people are just talking.
CCP will not go down. They will evolve into something very toxic for this planet before that happens. The first ones to suffer will be our good people in China.
Does this mean tencent 📉 ???
Tc or gtfo
Government should not control who can buy what. Capitalism is what made us great
I don’t want a government that is genociding people to control American media (yes, games are a form of it). All Chinese companies have a CPP Commissar on their boards that dictate things when the party wants something. That is too dangerous for a party that Has their nukes pointed at us. Guaranteed to be miss used for info gathering
If you do some research, you’ll see the closest military base to China is near South China Sea, where no Chinese military base is in sight. It is crystal clear who is a bigger threat to whom.
Can’t believe the comments. What’s wrong with a Chinese company owning some US firms? Isn’t this the economic freedom people been looking for? Tencent is not government owned btw.
It goes both ways, let China allow companies like Facebook and google operate..
Exactly, it doesn't go both ways. Its next to impossible for companies to own stakes in Chinese companies, not to mention that it is just as impossible to even set up your own company there as a foreign company. These type of things requires government regulation, and the reason a big chunk of real estates, companies etc in the US are Chinese owned is a direct result of the lack of regulations in the US to regulate this... It's not just the US either, China has been buying properties, companies etc all over the world. It's something that I think every country should at least review and see if it is an issue or not.
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China Biden will let this fly.
Beijing Biden dude
Lol