Tencent Relinquishes Epic Games Board Seats on Antitrust Concern
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Tencent Holdings Ltd. removed two directors it appointed to the board of Epic Games Inc. after the US Justice Department deemed the positions a violation of antitrust laws.
China’s most valuable company owns both a minority stake in Epic and a direct competitor in its Riot Games Inc. subsidiary, giving rise to concern about antitrust violations, the DOJ said in a statement Wednesday. Tencent relinquished the seats as well as its unilateral right to appoint directors or observers, according to the statement.