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China's market regulator said it would block Tencent Holdings Ltd's plan to merge the country's top two videogame streaming sites, Huya and DouYu, on antitrust grounds. Reuters first reported the State Administration of Market Regulation (SAMR) plan to block the deal on Monday, which came after the regulator reviewed additional concessions proposed by Tencent for the merger.
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SAMR said Huya and DouYu's combined market share in the video game live streaming industry would be over 70% and their merger would strengthen Tencent's dominance in this market, given Tencent already has over 40% market share in the online games operations segment.