Chinese antitrust regulator to block Tencent's videogaming merger - sources

  • 📰 Reuters
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 97%

United States News News

United States United States Latest News,United States United States Headlines

China's antitrust regulator is set to formally block Tencent Holdings Ltd's (0700.HK) plan to merge the country's top two videogame streaming sites, Huya (HUYA.N) and DouYu , three people familiar with the matter told Reuters.

Tencent first announced plans to merge Huya and DouYu last year in a tie-up designed to streamline its stakes in the firms, which were estimated by data firm MobTech to have an 80% slice of a market worth more than $3 billion and growing fast.

Huya and DouYu are ranked No. 1 and No. 2, respectively, as China's most popular video game streaming sites, where users flock to watch e-sports tournaments and follow professional gamers. Tencent is Huya's biggest shareholder with 36.9% and also owns over a third of DouYu, with both firms listed in the United States, and worth a combined $6 billion in market value.

Reuters reported in March, citing people with knowledge of the matter, that Tencent was having to offer concessions in a plan to merge Huya and DouYu in order to resolve antitrust concerns.Our Standards:Subscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

_ayama__ no m

اللهم إرحمه وأغفرله وتقبله معا الشهداء و الصالحين

Honestly i never thought to earn as much as have earn now Though i don't know the trading process at first Alex_jnns2 thought me steps to earn from Bitcoin trading have been earning massively trading with Mrs Jennings Get your BTC and DM the account manager Alex_jnns2

United States United States Latest News, United States United States Headlines