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China tech

Tencent pushes $10bn merger of game-streaming units

Combining platforms would strengthen two US-listed companies amid economic downturn

China's Tencent hopes to bring together two U.S.-listed companies in which it has invested.   © Reuters

HONG KONG -- Tencent Holdings is facilitating a tie-up between two U.S.-listed companies in which it is invested, a move to help the Chinese entertainment titan to fend off rising competition and create a streaming group with a market cap of $10 billion.

Huya, which is listed on the New York Stock Exchange, and Nasdaq-listed Douyu have been "in talks for a merger" for months, two people familiar with the deal told the Nikkei Asian Review. The deal is being driven by Tencent, which is the largest shareholder of both Chinese-based companies.

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