Sogou gains on report that China likely to clear Tencent deal soon, may block DouYu’s sale to Huya

On Jul 4, 2021 13

Sogou rose 0.7% on a report that Tencent’s planned $3.5B acquisition could be cleared as soon as next week in China.
China’s antitrust regulator is near approving the deal, traders said, citing a report that is circulating.
Recall in early April Reuters reported that China’s antitrust authority, the State Administration for Market Regulation or SAMR, was close to approving Tencent’s acquisition.

Separately, DouYu, which is being acquired by Huya, fell 1.3% on the same report saying that China is expected to make public a decision to block that deal.
In late April, a report circulated that China antitrust regulators may block the DouYu deal. In May, Dealreporter said the Chinese antitrust regulator hadn’t indicated its intention to block the Huya deal.
In May, DouYu CEO Shaojie Chen said on the company’s conference call that the deal with HUYA was on track.

Author: Josh Fineman, Seeking Alpha