Though little is known about the specifics of how the ban would be carried out, worries are mounting that Tencent’s other U.S.-based businesses could also be targeted. WeChat has a relatively small user base in the U.S., but Tencent’s investments range from full ownership of Los Angeles-based games developer Riot Games to minority stakes in California-based gaming firm Activision Blizzard as well as North Carolina-based Epic Games. “The U.S. [government] has not focused on games yet,” says Paul Triolo, practice head of geo-technology at New York-based consultancy Eurasia Group. Cui estimates that the U.S. accounts for one-quarter of Tencent’s gaming revenues generated from overseas markets. Before the executive order, Tencent shares rose almost 50% this year.

Source: Forbes August 11, 2020 10:07 UTC