- The State Administration for Market Regulation of the People's Republic of China (SAMR) prohibited streaming platform DouYu International Holdings Limited's DOYU proposed merger with HUYA Inc HUYA following an antitrust review.
- Tencent Holdings Ltd TCEHY had pushed for the merger as it owned stakes in both companies. It aimed to hold 67.5% voting power in the new combined company.
- Price action: DOYU shares traded higher by 0.55% at $5.48, and HUYA shares traded lower by 1.52% at $14.9 in the premarket session on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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