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Benzinga
Benzinga
Business
Anusuya Lahiri

Why Are DouYu Shares Trading Higher Premarket?

DouYu Tencent HUYA China NYSE Tencent Holdings Ltd
  • Tencent Holdings Ltd (OTC:TCEHY) looks to take DouYu International Holdings Ltd (NASDAQ:DOYU) private by 2022 end amid disagreements over strategy among executives at the Chinese videogame streaming firm, Reuters reports.
  • Tencent, the biggest shareholder in DouYu, has a 37% stake. 
  • Tencent aims to team up with at least one private equity firm for the deal and is currently talking to investment banks.
  • DouYu is one of Tencent's leading platforms for game marketing and China's No. 2 videogame streaming site.
  • The report adds DouYu debated its business strategy after regulators blocked Tencent's plans to merge it with bigger rival HUYA Inc (NYSE:HUYA) on antitrust grounds.
  • DouYu executives debated whether to stick with live game streaming as its core business or shift towards more profitable entertainment live streaming.
  • The take-private plans reflect Tencent's desire to have a firm grip on its core gaming affiliates when it faces a raft of regulatory issues.
  • Price Action: DOYU shares traded higher by 9.05% at $2.41 in the premarket session on the last check Thursday.
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