PUBG Ban impact: Tencent loses 14 billion dollars in market value, share down by 2 per cent
New Delhi : Soon after Indian government imposed a ban on the famous Chinese game PUBG, Tencent lost $14 billion in market value and its shares fell 2% on Thursday, snapping two straight sessions of gain.
India had around 175 million mobile installs of the game at the time it was banned.
From the roots, PUBG was a game developed by a South Korean company Bluehole, it was the Chinese gaming company Tencent Games which brought its mobile version. Tencent Games is a part of Tencent Holdings, which is a Chinese multinational conglomerate.
Tencent also hold a 10% stake in the company Bluehole.
Meanwhile, the move by India comes amid fresh border tensions with China in Ladakh when India foiled repeated attempts by Chinese troops to transgress into the Indian side of Line of Actual Control (LAC) with intentions to unilaterally change the status quo.