- 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