Salem Radio Network News Monday, July 26, 2021

Business

Chinese antitrust regulator blocks Tencent’s video games merger

HONG KONG (Reuters) – China’s market regulator on Saturday said it decided to block Tencent Holdings Ltd’s plan to merge the country’s top two videogame streaming sites, Huya and DouYu on antitrust grounds.

The State Administration Of Market Regulation (SAMR) said the decision was made after reviewing additional concessions proposed by Tencent for the merger.

Tencent filed for the antitrust review of the merger in January, according to SAMR’s announcement.

(Reporting by Kane Wu in Hong Kong; Editing by Lincoln Feast.)

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