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$TENCENT(00700.HK)$
US launches security review of Tencent's $1.3 billion acquisition of Sumo
According to Reuters, the US National Security Council is investigating Tencent's acquisition of British gaming company Sumo Group to ensure that it does not harm US national security. Sumo, who has studios in the US and four other countries, said Tencent has agreed to provide relevant documents to obtain approval from CFIUS. Tencent announced an increase in Sumo Group's remaining shareholding in July. Sumo said the company and Tencent are in touch with CFIUS to get approval before the end of this year.

As the world's largest video game company, Tencent has been the subject of controversy for many years, but its influence has not diminished. Tencent previously owned 8.75% of Sumo's shares, and also owns significant shares in many Western game publishers, such as Riot for League of Legends, Supercell for Clash of Clans, and Epic Games for Fortnite. Tencent even holds 5% of Activision Blizzard's shares.