Tencent Is the Big Gaming Winner as Huya and DouYu Agree to Merge
Chinese live-streaming game platform Huya (NYSE: HUYA) announced today that it has agreed to acquire rival DouYu International Holdings (NASDAQ: DOYU) in a deal that values DouYu at $6 billion. But it is Tencent (OTC: TCEHY) that comes out the big winner since it owns shares in both companies and will have a nearly 68% stake in the new company that is created.
Huya is China's most popular online gaming site while DouYu is No. 2. Together they control over 80% of the Chinese market.
Image source: Getty Images.
Source Fool.com
