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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

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