Benzinga | Jul 12, 2021 08:46AM EDT

DouYu To Terminate HUYA Merger Following China's Antitrust Review

* The State Administration for Market Regulation of the People's Republic of China (SAMR) prohibited streaming platform DouYu International Holdings Limited's (NASDAQ:DOYU) proposed merger with HUYA Inc (NYSE:HUYA) following an antitrust review.

* Tencent Holdings Ltd (OTC:TCEHY) had pushed for the merger as it owned stakes in both companies. It aimed to hold 67.5% voting power in the new combined company.

* Price action: DOYU shares traded higher by 0.55% at $5.48, and HUYA shares traded lower by 1.52% at $14.9 in the premarket session on the last check Monday.