A United States government blacklist of companies it believes are linked to the Chinese military has recently added gaming powerhouse Tencent.
Shares of the company have fallen by as much as seven percent following its inclusion on the list, which originated from an executive order in 2020 that prevents companies from investing in firms tied to the Chinese military. Tencent has investments in more than 800 companies, including gaming heavyweights Activision Blizzard, Epic Games, and Ubisoft.
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However, a spokesperson for Tencent has told The Verge that its inclusion pin the list is a ‘misunderstanding’ and will work to resolve the issue with the Department of Defence.
We are not a military company or supplier. Unlike sanctions or export controls, this listing has no impact on our business. We will nonetheless work with the Department of Defense to address any misunderstanding.
Tencent recently came under fire for announcing a new title known as Light of Motiram, which bears many striking resemblances to Sony’s Horizon franchise.
[Source – The Verge]