Each week, Esports Insider brings together the biggest headlines from the esports industry in China. This week in Chinese esports saw Tencent exercise the option to become the largest shareholder in HUYA, two federations join forces, and DPL merge with CDA.
Tencent becomes the largest shareholder of HUYA
Chinese live streaming platform HUYA announced that Linen Investment Limited, a wholly-owned subsidiary of Tencent, exercised the option to acquire 16,523,819 Class B ordinary shares. After the transaction, Tencent would own 50.9 percent of the company, becoming its largest shareholder. HUYA will still operate separately.
Rongjie Dong, CEO of HUYA, commented: “After this transaction, it is believed that we will have more opportunities to develop our business.