Tencent completed the acquisition of an additional 15.1% stake in Huya, a game live streaming platform in China, for $262m. Tencent raised its stake to 50.1% by buying 16.5m class B shares of Huya from JOYY. "We are privileged to have witnessed Huya’s rapid growth and achievements to become a leading game live streaming platform in China since its inception, demonstrating strong capabilities of Huya’s management team and innovation genes of JOYY Group. We believe Tencent’s global leading position in the gaming industry makes Huya well-positioned to open up a new dimension of growth opportunities. JOYY will remain committed to our short-form video and live streaming products in the global market and we hope this transaction could bring additional values for all parties and maximize the long-term interests of JOYY’s shareholders in various ways," David Xueling Li, JOYY Chairman and CEO.