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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.
US launches security review of Tencent's $1.3 billion acquisition of Sumo
According to Reuters, the US National Security Council is investigating Tencent's acquisition of British gaming company Sumo Group to ensure that it does not harm US national security. Sumo, who has studios in the US and four other countries, said Tencent has agreed to provide relevant documents to obtain approval from CFIUS. Tencent announced an increase in Sumo Group's remaining shareholding in July. Sumo said the company and Tencent are in touch with CFIUS to get approval before the end of this year.
As the world's largest video game company, Tencent has been the subject of controversy for many years, but its influence has not diminished. Tencent previously owned 8.75% of Sumo's shares, and also owns significant shares in many Western game publishers, such as Riot for League of Legends, Supercell for Clash of Clans, and Epic Games for Fortnite. Tencent even holds 5% of Activision Blizzard's shares.
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$TENCENT.HK$ What happened
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I feel that although $BABA.US$ is still a giant in the Chinese industry, it is now also facing a lot of challenges.As consumer behavior shifts from targeted product searches to browsing and interaction, competitors are exploring the area and trying to get a foothold in the market dominated by Jack Ma's Ali Baba.
According to a Wall Street Journal report, Ali Baba's share of China's retail e-commerce market has fallen to a projected 51% in 2021 from 78% in 2015. A shift in the consumer shopping format moving from search to browsing has worked against Alibaba.
However, many Chinese consumers still go directly to Alibaba's Taobao or Tmall to look for products; others have been pulled into purchases while interacting digitally or consuming online content. $PDD.US$ $JD.US$
According to a Wall Street Journal report, Ali Baba's share of China's retail e-commerce market has fallen to a projected 51% in 2021 from 78% in 2015. A shift in the consumer shopping format moving from search to browsing has worked against Alibaba.
However, many Chinese consumers still go directly to Alibaba's Taobao or Tmall to look for products; others have been pulled into purchases while interacting digitally or consuming online content. $PDD.US$ $JD.US$
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Who hasn't heard of Warren Buffett—one of the world's richest people, consistently ranking high on Forbes' list of billionaires? He is probably best known for being one of the world's most successful investors.
Do you want to be the next Warren Buffett, or Wall Street analyst?
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Do you want to be the next Warren Buffett, or Wall Street analyst?
Best to start where you are
Looking over analyst reports is the best way to start your own analysis. That way, you save a lot of time by cutting short preliminary work.
Furthermore, you can take a cl...
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