In the world of video games, Tencent is one of the major players in part because it owns Riot Games--the company behind League of Legends--as well as stakes in other companies, including Epic Games. However, the company is now facing serious problems over its alleged ties with the Chinese military.
According to Bloomberg, Tencent is one of several companies that have been blacklisted by the US Defense Department after the government declared them to be Chinese military-affiliated. Tencent and the other companies on the list have the right to appeal that classification, because the ramifications are enormous if that stands. Companies tied to the Chinese military may be removed or delisted from US stock exchanges--though this wouldn't apply to Tencent specifically, as it's listed on the Hong Kong stock exchange--and other markets around the world.
A Tencent spokesperson shared the following statement with GameSpot.
Continue Reading at GameSpot
