Tencent (OTC: TCEHY) recently proposed merging Huya (NYSE: HUYA) and DouYu International (NASDAQ: DOYU), the two largest video game streaming platforms in China. Tencent owns 36.9% of Huya's shares with a 50.9% voting stake, as well as a 38% equity and voting stake in DouYu.
Tencent replaced JOYY (NASDAQ: YY) as Huya's top investor earlier this year after exercising an option to boost its voting stake. That transaction immediately sparked speculation that Tencent would merge Huya and DouYu to dominate the game streaming market.
Image source: Getty Images.