Huya, a game live streaming platform, failed to merge with DouYu, a Chinese video live streaming service. Each DouYu share would have been exchangeable for 7.30 validly issued, fully paid, non-assessable Class A ordinary shares of Huya. Both firms would have held a 50% stake in the combined company. Tencent would have additionally acquired c. 2m of Huya shares, subject to conditions. On March 23, 2021, Tencent Holdings will face concessions in a plan to merge Huya and DouYu in order to resolve antitrust concerns. On July 12, 2021, companies announced Chinese regulator prohibited the merger.