World’s biggest games company added to Pentagon blacklist over military ties

The company is bigger than even Microsoft when it comes to gaming Tencent hopes to negotiate with the US government to have it removed from a blacklist of firms believed to have ties with the Chinese military. In late 2020, then US president Donald Trump signed an executive order to prevent US companies from investing in any firms with ties to the Chinese military.

Simply being on the list could also discourage US businesses from working with Tencent and potentially scupper any further investment opportunities. In Beijing, a spokesperson for China’s Foreign Ministry was far more critical about the recent additions to the list, which includes not just Tencent but battery manufacturer CATL as well.

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Tencent Shares Plunge After Pentagon Designates It as Chinese Military CompanyTencent's US-listed shares dropped sharply after the Pentagon added the tech giant to a list of Chinese companies deemed to be operating with the Chinese military. While the designation carries no immediate legal consequences, it raises reputational concerns for Tencent, which owns the widely used messaging app WeChat. The Pentagon's move is part of a broader US effort to counter China's military ambitions and technological advancements.
Source: FT - 🏆 113. / 51 Read more »