Oracle down after report company abandons $7 bln Tencent deal under Trump pressure
04/11/2026 10:40
BUZZ-Oracle down after report company abandons $7 bln Tencent deal under Trump pressure ** 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
(Reporting by Tharuniyaa Lakshmi in Bengaluru)
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