China’s Tencent is negotiating with the US to retain its shares in Riot and Epic

by Ashish

Tencent Holdings has been negotiating with the Committee on Foreign Investment in the United States (CFIUS) since the end of 2020 to ensure that it can continue to hold shares in Riot Games and Epic Games.

The source said that CFIUS has been investigating whether Epic Games and Riot Games’ processing of users’ personal data constitutes a security risk.

This China-based company owns 40% of Epic Games, the developer of the popular video game Fortnite. Tencent also acquired a majority stake in Riot Games in 2011 and the remaining stake in the company in 2015. Riot Games is the developer of “League of Legends”.

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The source said that company is negotiating with the Committee on Foreign Investment in the United States to reduce risks in order to continue investing.

The details of the proposed measures are currently unavailable. Whether Tencent will finalize the deal to retain its investment is uncertain. Tencent, Epic Games, and a CFIUS representative all declined to comment.

(Source)

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