Capital Com MENA Securities Trading LLC is regulated by the Capital Market Authority.
Open platformOpen platform

Oracle down after report company abandons $7 bln Tencent deal under Trump pressure

By Reuters News

** Shares of Oracle ORCL.N down 2.2% at $123.25 premarket

** Company has canceled a multibillion-dollar chip leasing contract with Tencent 0700.HK after bowing to pressure from the Trump administration, the Financial Times reports

** US officials approached Oracle to raise concerns about the Tencent deal - report

** FT had earlier reported that Tencent signed its largest overseas lease deal, worth an estimated $7 billion, with ORCL

** Oracle, Tencent and the White House did not respond to Reuters' requests for comment on the report

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.