Telkom now has an own-branded music streaming service after reaching an agreement with Joox, owned by China’s Tencent, to launch the offering.
China’s antitrust regulator is set to order Tencent to give up exclusive rights to music labels that it’s used to compete with smaller rivals, two people with knowledge of the matter said.
China’s market regulator on Saturday said it would block Tencent’s plan to merge the country’s top two videogame streaming sites, Huya and DouYu, on antitrust grounds.
China has issued a sweeping warning to its biggest companies, vowing to tighten oversight of data security and overseas listings just days after Didi Global’s contentious decision to go public in the US.
President Xi Jinping’s government is reining in the country’s most powerful corporations and their billionaire founders, including Alibaba Group, Tencent Holdings and Didi Global. But why?
China’s antitrust regulator is set to formally block Tencent Holdings’ plan to merge the country’s top two videogame streaming sites, Huya and DouYu, three people familiar with the matter said.
Tencent Holdings, which has lost more than a fifth of its market value in the past few months, now appears to be losing its biggest supporter: Chinese investors.
Prosus said its e-commerce business grew revenues and shrank trading losses for the year that ended 31 March, even as its overall profit continued to be dominated by its investment in Chinese technology giant Tencent.
Naspers reported a 24% rise in profit for the year that ended 31 March, boosted primarily by the performance of its investment in China’s Tencent Holdings, the company said on Monday.
Tencent Holdings reported a 25% gain in quarterly revenue as China’s largest company sustained a boom in gaming and cloud that began during the Covid-19 pandemic.