Tencent denies links to Chinese military, willing to pursue legal action in response to US designation. Classification negatively impacted Tencent, causing a seven percent drop in share price. Attempt by Tencent to purchase Ubisoft stalled due to Guillemot family's reluctance.

Earlier this week the US Department of Defense added a new batch of companies to its Chinese military companies blacklist. While inclusion on the list comes with no sanctions, it does have a reputational impact,

Yesterday, we reported that the US federal government had placed Chinese video game publisher Tencent - owner of