Chinese antitrust regulator to block Tencent merger – Sharecast.com

According to three people close to the matter who spoke to Reuters on Monday, Tencent failed to gather sufficient remedies to meet the State Administration of Market Regulation’s requirements on giving up exclusive rights, said two of the people. Tencent is Huya’s biggest shareholder with a 36.9% stake and also owns over a third of DouYu, with both firms listed in the United States and worth a combined $6bn in market value. The internet giant recently withdrew the merger application for antitrust review and refiled it after SAMR told the company it could not complete the review of the merger…