Monopoly Regulators to Probe Tencent’s DouYu-Huya Merger and Punish China Literature and Alibaba
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variety.comPatrick Frater Asia Bureau ChiefChinese regulators said on Monday that they would probe the proposed merger of game live-streaming companies DouYu and Huya, in relation to the deal’s possible violation of monopoly laws.The same day, it emerged that Alibaba had been fined for not properly reporting an increased share stake in retail chain Intime.
The regulator also fined the Tencent-backed China Literature for not reporting its 2018 purchase of TV production house New Classics Media for monopoly scrutiny.The moves were all announced by the State Administration of Market Regulation which used a 2008 anti-monopoly law to fine each company a maximum of RMB500,000 ($76,500).While the sums are tiny compared with the deal sizes or Tencent and.
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