The US Committee on Foreign Investment in the United States (CFIUS) began probing a planned takeover [1] of UK-based gaming company Sumo Group by Tencent for £919 million, potentially challenging a global expansion plan by the Chinese company.
Sumo Group notified shareholders of the probe, which commenced yesterday (28 October), explaining in a statement the companies were actively engaged with CFIUS as they seek to close the transaction by the year-end.
The game developer explained Tencent had offered concessions.
CFIUS is responsible for reviewing non-domestic investments and their potential implications on national security.
Sumo Group operates studios in the UK, US, Canada, India and Poland.
Tencent fully owns US-based Riot Games, developer of League of Legends and holds stakes in Finland-based mobile game maker Supercell and Fortnite developer Epic Games.
[1] https://www.mobileworldlive.com/apps/news-apps/tencent-pours-900m-into-uk-gaming-push
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