Tencent Music ‘Evaluating All Options’ After Trump’s WeChat EO
Delisting Tencent Music Entertainment (TME) shares from the New York Stock Exchange is “not the only option” if President Donald Trump’s Aug. 6 executive order takes effect barring WeChat parent Tencent Holdings from doing business in the U.S. after Sept.…
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20 (see 2008070032 or 2008070061), said TME Chief Strategy Officer Tony Yip on a quarterly investor call Monday. It's "premature" to comment because the July 24 report from the President’s Working Group on Financial Markets on alleged Chinese threats to U.S. national security lists “alternative" remedies to an outright ban, he said. “We are evaluating all options” to be sure that when “further policy” directives come out, “we will be acting in the best interest of our shareholders to protect long-term value,” he said. The White House didn’t comment Tuesday. The stock closed 1.2% lower Tuesday at $15.50.