China’s antitrust regulator is set to formally block Tencent’s plan to merge the country’s top two videogame streaming sites, Huya and DouYu , three Reuters sources have said.
Tencent has failed to come up with sufficient remedies to meet the State Administration of Market Regulation’s (SAMR) requirements on giving up exclusive rights, said two of the sources.
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 within 180 days since its first filing, Reuters sources said.