Benzinga | Oct 29, 2021 11:48AM EDT

Tencent Attracts US Scrutiny On Sumo Group's Acquisition

* Sumo Group PLC (OTC:SUMGF) informed that the U.S. national security panel is investigating Tencent Holdings Ltd's (OTC:TCEHY) acquisition of the British videogame developer, Reuters reports.

* Tencent agreed to acquire Sumo for $1.27 billion.

* Sumo and Tencent are engaging with the Committee on Foreign Investment in the U.S. (CFIUS), which assesses deals to ensure they do not hurt national security, to get clearance for the acquisition before the end of the year.

* Price Action: TCEHY shares traded lower by 2.23% at $61.32 on the last check Friday.