Tencent makes largest share buyback in 20 years after US blacklisting

Chinese tech giant Tencent Holdings Ltd, the creator of popular games such as Fortnite and Call of Duty, undertook its largest share repurchase on Tuesday after being unexpectedly blacklisted by the US Department of Defense. The blacklisting caused its stock to tumble 7.3 per cent by the end of trading on January 7, prompting the company to announce a substantial share buyback.