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Exclusive: China set to clear Tencent s $3.5 billion Sogou deal subject to data security conditions: sources
4 Min Read
(Reuters) - China’s antitrust regulator is ready to clear tech giant Tencent Holdings Ltd’s plan to take the country’s no.3 search engine Sogou private, three people with knowledge of the matter told Reuters, a move that signals the watchdog is willing to wave some deals through even as it ratchets up sector scrutiny.
FILE PHOTO: A Tencent logo is seen at its booth at the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing, China September 4, 2020. REUTERS/Tingshu Wang/File Photo
By Pei Li and Julie Zhu (Reuters) - China s antitrust regulator is ready to clear tech giant Tencent Holdings Ltd s plan to take the country s no.3 search engine Sogou private, three people with knowledge of the matter told Reuters, a move that signals the watchdog is willing to wave some deals through even as it ratchets up sector scrutiny. The regulator, State Administration of Market Regulation (SAMR), has no objection to the $3.5 billion deal for the 60% of U.S.-listed Sogou that Tencent doesn t already own, the people said, as long as Tencent is willing to set up a special mechanism to ensure data security - a first for SAMR deal approvals.
4 Min Read
(Reuters) -China’s antitrust regulator is ready to clear tech giant Tencent Holdings Ltd’s plan to take the country’s no.3 search engine Sogou private, three people with knowledge of the matter told Reuters, a move that signals the watchdog is willing to wave some deals through even as it ratchets up sector scrutiny.
FILE PHOTO: A Tencent logo is seen at its booth at the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing, China September 4, 2020. REUTERS/Tingshu Wang/File Photo
The regulator, State Administration of Market Regulation (SAMR), has no objection to the $3.5 billion deal for the 60% of U.S.-listed Sogou that Tencent doesn’t already own, the people said, as long as Tencent is willing to set up a special mechanism to ensure data security - a first for SAMR deal approvals.
Approval pending data security, private info protection
remedies
-sources Huya-Douyu merger, subject to similar remedies, to be
approved
soon -sources
April 9 (Reuters) - China s antitrust regulator is ready to
clear tech giant Tencent Holdings Ltd s plan to take
the country s no.3 search engine Sogou private, three people
with knowledge of the matter told Reuters, a move that signals
the watchdog is willing to wave some deals through even as it
ratchets up sector scrutiny.
The regulator, State Administration of Market Regulation
(SAMR), has no objection to the $3.5 billion deal for the 60% of
U.S.-listed Sogou that Tencent doesn t already own, the